US spot Bitcoin ETFs recorded their strongest week of inflows since mid-April, pulling in $853.54 million across five consecutive positive sessions from August 3 to August 7, according to dat
US spot Bitcoin ETFs recorded their strongest week of inflows since mid-April, pulling in $853.54 million across five consecutive positive sessions from August 3 to August 7, according to data from SoSoValue.
@BlackRock's $IBIT was the standout contributor. The fund accounted for $693.7 million of the total Bitcoin ETF inflows, or more than 80% of the category total. That concentration underscores how dominant a single product has become in the spot Bitcoin ETF market.
The week's inflows reversed a modest $61.5 million in outflows from the prior week and pushed cumulative net inflows across all US spot Bitcoin ETFs to $52.18 billion since launch.Total net assets in the category climbed to $79.50 billion, representing roughly 6.10% of Bitcoin's entire market capitalization.
Flows were not evenly spread across the week. The funds opened with $170.1 million on August 3, followed by $211.5 million on August 4, a week-high $244.4 million on August 5, then $128.8 million on August 6 and $98.85 million on August 7.
Despite the strong week, the broader picture is more cautious. Year-to-date, Bitcoin ETFs are still down roughly $4.5 billion in net outflows, despite the recent rebound. That means one strong week, while encouraging, has not unwound months of net selling from the category.
The $853.5 million weekly total was the largest since the week ending April 17, which saw $996.4 million in inflows.August flows are already nearly five times July's $172.4 million total. The sharp turnaround suggests renewed appetite after a difficult summer, though analysts will be watching subsequent weeks to judge whether the momentum holds.
Bitcoin rose about 3% on the week and touched an August high above $65,300 on Friday, when US payrolls fell by 23,000 against forecasts for an 80,000 gain and traders priced out a September rate hike.
Sources:The Block: Bitcoin, Ether ETFs Draw $1.1 Billion in Best Inflow Week Since AprilCrypto.news: Bitcoin ETFs Draw $853.5M in Five-Day Inflow StreakCrypto Briefing: BlackRock's IBIT Captures 81% of $853M Bitcoin ETF Inflow Streak
