Bitcoin ETFs Surge on Record Inflows Amid Price Rebound

Bitcoin spot ETFs have rebounded in August, attracting over $800 million in inflows in their first full week of the month. This coincided with a price revival for BTC, which rose from a monthly low at $62,200 on Monday to over $65,000 on Friday.

The funds' performance was a stark contrast to July, when they saw net outflows of $172.43 million, losing the inflow war to Ethereum spot ETFs. The recent week's inflows were nearly as high as all four previous weeks combined, making it the best single-week performance since mid-April.

The Bitcoin price surge may have been fueled by the ETF inflows, which reached a three-month record. Additionally, the underlying asset's price increase was also influenced by weaker-than-expected US jobs data.