Institutional Money Charges into Bitcoin: ETFs Pull in $853 Million
After a bloody July, US spot Bitcoin ETFs have seen a dramatic reversal. BlackRock's IBIT dominates with 80% of all inflows, yet Bitcoin's price remains stuck below $66,000.
After a bloody July, US spot Bitcoin ETFs have seen a dramatic reversal. BlackRock's IBIT dominates with 80% of all inflows, yet Bitcoin's price remains stuck below $66,000.
The positive wave did not bypass the second-largest crypto market. US spot Ethereum ETFs attracted approximately $245 million in net capital during the same week. Although the week started with an outflow of $11.4 million on August 3, a reversal quickly followed with inflows of $53.8 million, $60.9 million, and a strong $92 million on August 6. The week closed with an additional $50 million on August 7. BlackRock's Ethereum fund, ETHA, also played a key role in attracting capital.
Bitcoin and Ethereum ETFs together accumulated nearly $1.1 billion in just five days, indicating a pronounced institutional preference for the largest and most liquid crypto assets. Smaller crypto ETF products have not attracted anywhere near comparable amounts.
All attention now turns to the release of July's Consumer Price Index (CPI) data in the US, scheduled for August 12. This macroeconomic indicator could decisively influence the direction of future inflows and, consequently, Bitcoin's struggle to break above $66,000.