Demand for US spot Bitcoin exchange-traded funds (ETFs) rebounded sharply last week, signaling renewed investor appetite after months of uneven flows, even as uncertainty persists around digital asset regulation and the security of crypto self-custody.
The spot funds saw almost $1 billion in net inflows for the week on Saturday, according to Bloomberg ETF analyst Eric Balchunas. This was their greatest performance since April and their third-highest week since last October, which he called Bitcoin’s “silent IPO.”
The bitcoin ETFs just clocked their best week in flows (about $1b) since April and the 3rd best week since the good ole days were ruined by the Silent IPO last Oct. IBIT, FBTC and few others saw inflows every single day since Coldcard hack, making it hard not to see causation in… pic.twitter.com/5GnmkvD5g4
— Eric Balchunas (@EricBalchunas) August 8, 2026
The recovery also came after a significant security breach affecting Coldcard, a well-known hardware wallet for Bitcoin created by Coinkite, which led to the theft of almost $116 million in Bitcoin. The vulnerability, which allowed attackers to access money stored in wallets made with vulnerable software, was connected to a weakness in the way impacted devices produced wallet keys.
On Friday, Balchunas suggested the incident could ultimately strengthen the appeal of spot Bitcoin ETFs among investors who are uncomfortable with the technical and security responsibilities associated with self-custody. He pointed to the surge in ETF inflows following the hack as a potential, though unproven, link.
While acknowledging that correlation does not imply causation, Balchunas said, “long-term I can’t imagine there aren’t some who migrate over,” referring to investors potentially shifting from cold storage to ETFs.
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