Bitcoin ETFs Surge Back with $626M Inflows at Start of August

Bitcoin exchange-traded funds (ETFs) experienced a surge in demand at the beginning of August, attracting $626 million in net inflows over three trading days. The largest contributor to this influx was BlackRock's iShares Bitcoin Trust, which supplied around $479 million and pushed its lifetime net inflows toward $61 billion.

The recovery comes after a tumultuous stretch for the category, with US spot Bitcoin ETFs bleeding more than $8 billion in May and June. July marked the first positive month since April, but August has shown an even stronger rebound, with seven of the 12 listed products drawing cash on August 3.

Ether funds also saw a boost, adding $114.6 million over two days, while XRP products broke their four-session run without redemptions, shedding only $3.58 million.