Bitcoin ETFs Log Record August Inflows as Price Reaches New Heights

Bitcoin ETFs kicked off August on a strong note, attracting over $800 million in inflows during the first full week of the month. This marked their best single-week performance since mid-April, when they pulled in nearly $1 billion.

The funds saw a significant surge in investment, with net inflows totaling $853.54 million. This was more than all four previous weeks combined and outpaced their July performance, which ended with a modest net inflow of $172.43 million.

Bitcoin's price also experienced a revival during this period, rising from $62,200 on Monday to over $65,000 on Friday, fueled in part by the weaker-than-expected US jobs data.