Bitcoin ETFs Surge Past $1.6 Billion in Weekly Inflows, Ethereum ETFs See Largest Single-Day Take

Bitcoin ETFs saw their largest weekly inflows since October on Thursday, pulling in $608.3 million and pushing total August inflows past previous highs of $1.97 billion.

The influx of funds is part of a four-day streak for Bitcoin ETFs, which have been attracting institutional investors in recent days.

Ethereum ETFs also saw significant inflows on Thursday, adding $220.8 million and lifting August inflows to nearly $755 million.

Exchange balances for Ethereum have fallen from 7.70 million coins on June 2 to 6.54 million on August 18, reducing available selling supply and supporting the trend towards higher prices.

The current market backdrop is supportive of continued price growth for both Bitcoin and Ethereum, with exchange balances falling and ETF inflows rising.