BlackRock Sees Shift in Bitcoin Sentiment Amid ETF Inflows

Bitcoin's relationship with equities has been shifting over the past year, according to BlackRock. The cryptocurrency has increasingly decoupled from stocks in 2026, with U.S. spot Bitcoin ETFs attracting $853.5 million in inflows last week.

BlackRock's IBIT captured more than 80% of those inflows, while Fidelity added $116.4 million. This comes despite a prolonged price decline for Bitcoin, which traded at $63,853 on August 10, down nearly 30% in 2026 and roughly 50% from a year earlier.

Robert Mitchnick, BlackRock's Head of Digital Assets, said investor sentiment has changed over the past month as Bitcoin's performance diverged from stocks. He noted that spot Bitcoin ETF holders have generally behaved like 'fundamental, long-term, buy-and-hold' investors despite the asset's volatility.

The Coldcard exploit, which reportedly led to more than $100 million in Bitcoin being stolen from cold storage, has also fueled speculation that some holders are moving assets from self-custody into regulated funds. Mitchnick said this decoupling is 'healthy' for Bitcoin's role as a possible portfolio diversifier.