U.S.-listed spot Bitcoin 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.
BlackRock's IBIT accounted for the bulk of the activity, attracting $693 million on its own. The surge offers a tentative sign that institutions are returning after heavy selling earlier this year.
Bitcoin (BTC) traded at $65,159.81 and has shown steadier price action recently. Negative headlines, including a multi-million-dollar Coldcard hack and rising government bond yields, failed to dent the spot market. Bitcoin held around $64,000 early this week before trading at roughly $65,100 as of this writing.
Friday's weaker-than-expected U.S. jobs report for July cooled bets on further Federal Reserve rate hikes, potentially clearing the path for continued institutional buying in ETFs.
Year-to-Date Picture Remains Negative
The latest inflow spike 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, which 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.
