Bitcoin Spot ETFs See Record Inflows as IBIT Dominates Demand

Bitcoin spot ETFs recorded significant inflows over five consecutive trading sessions from August 3 to August 7, according to CoinGlass data. This marked a reversal of the prior week's withdrawals, with net inflows totaling approximately $853.5 million. BlackRock's IBIT accounted for an estimated $693 million of this total, or roughly 81% of category-wide inflows.

The five-day streak saw ETF demand support the $64,000 area, but not produce a confirmed breakout until now. This week's trading session began with BTC USD trading +0.8% since yesterday, breaking through $65K to trade at $65,200.

Last week's ETF inflows were seen as a bullish sign for the market, and if this week continues in the same vein, it could provide a platform for a broader upside move across crypto through August.