BlackRock Dominates $1B Bitcoin and Ethereum ETF Surge
Bitcoin and Ethereum ETFs had their best week since April, with over $1 billion in fresh money pouring into US-listed spot funds. BlackRock's IBIT and ETHA took in a combined $896 million, accounting for more than four-fifths of the total inflows.
The influx of funds comes just days after a security flaw was disclosed affecting Coldcard hardware wallets. Researchers estimated that around 1,816 BTC, worth about $116 million, were siphoned from over 5,200 addresses beginning July 30.
ETF analyst Eric Balchunas suggested that the breach could bolster the case for institutional custody among investors who prioritize long-term Bitcoin exposure rather than transactions or censorship-resistant payments. However, he noted that there is no evidence tying the Coldcard breach to this week's ETF flows.