Bitcoin investors pour $853 million into spot ETFs. BlackRocks IBIT claims the bulk

Özet:U.S.-listed bitcoin ETFs attracted $853 million in net inflows for the week ended Aug. 7, their strongest weekly showing since mid-April, according to SoSoValue. BlackRock‘s IBIT accounted for most of that, pulling in $693 million alone, offering a tentative sign that institutions are returning after heavy selling earlier this year. Bitcoin held around $64,000 early in the week and traded near $65,100, with negative headlines and rising bond yields failing to dent the spot market. Friday’s unexpectedly weak July jobs report has cooled bets on further Fed rate hikes, potentially supporting continued institutional buying. Still, this is just one week of data; ETFs remain about $4.5 billion in the red year-to-date, reflecting the outflows behind bitcoins 33% drop to below $60,000 by end of June.

Summary

  • The U.S.-listed ETFs pulled in $853 million in investor money in the week ended Aug. 7.
  • That marks the highest weekly inflow since April.

Bitcoin exchange-traded funds (ETFs) pulled in $853.54 million in net inflows for the week ended Aug. 7, the largest weekly total since mid-April, according to data from SoSoValue.

BlackRocks IBIT accounted for the bulk of the activity, attracting $693 million on its own.

This surge in inflows offers a tentative sign that institutions are dipping back in after the heavy selling earlier this year.

Recent bitcoin price action has looked more constructive. Negative headlines, including a multi-million-dollar Coldcard hack and rising government bond yields, have failed to dent the spot market. Bitcoin held steady at around $64,000 early this week and traded at around $65,100 as of this writing.

Fridays unexpectedly weak U.S. jobs report for July has cooled bets on further Federal Reserve rate hikes for now, potentially clearing the path for continued institutional buying in ETFs.

What next?

The latest spike in inflows represents only one week of data. On a year-to-date basis, the ETFs remain roughly $4.5 billion in the red due to net outflows. This helps explain the heavy selling pressure seen during the first six months of the year, when Bitcoin fell 33% to below $60,000 by the end of June.

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