Bitcoin ETFs Soar as Inflows Reach $853 Million in August

Bitcoin ETFs had a stellar week in August, attracting $853.54 million in new investments, their best single-week performance since mid-April when they gained nearly $1 billion at one point.

The funds started the month with a bang, pulling in more than $800 million in the first full week of August, coinciding with Bitcoin's price revival that saw the asset jump from a monthly low of $62,200 on Monday to over $65,000 on Friday.

This is a significant turnaround from July, when investors pulled out more than $2.4 billion from the spot Bitcoin ETFs in May and another $4.5 billion in June, resulting in a net inflow of just $172.43 million for the month.

The Ethereum counterparts also had a good week, extending their consecutive weekly streak to five in a row with a net inflow of almost $245 million, although their price only climbed by around 3% weekly.