Bitcoin ETF Inflows Hit $853M as BlackRock’s IBIT Grabs 81%

Bitcoin ETF inflows just posted their strongest week in months, and the number driving the headline came almost entirely from one fund. Between August 3 and August 7, U.S. spot Bitcoin ETFs pulled in $853.54 million in net inflows, the largest weekly total since mid-April, according to data from SoSoValue. BlackRock’s IBIT alone accounted for $693 million of that sum, meaning roughly 81 cents of every dollar that entered the category landed in a single product.

Key takeaways

• U.S. spot Bitcoin ETFs recorded $853.54 million in net inflows for the week ended August 7, the biggest weekly haul since mid-April.
• BlackRock’s IBIT captured $693 million of that total, roughly 81% of all category inflows.
• Bitcoin traded between about $64,000 and $65,100 throughout the stretch.
• Year-to-date, Bitcoin ETFs are still down roughly $4.5 billion in net outflows, despite the recent rebound.
• A weak July U.S. jobs report cooled expectations of further Federal Reserve rate hikes, a backdrop that may have supported the buying.

Surge in Bitcoin ETF Inflows Driven by BlackRock

The headline figure here answers a simple question: institutional money is coming back, and it’s coming back through one address in particular. The $853.54 million weekly total marks the strongest showing for the category since April, according to SoSoValue figures.

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