Crypto
BlackRock's Bitcoin ETF Grabs 81% of Record Week's Inflows
The week ending August 7 saw a significant surge in Bitcoin ETF inflows, with U.S. spot Bitcoin ETFs pulling in $853.54 million in net inflows.
This represents the largest weekly total since mid-April and is largely driven by BlackRock's IBIT, which captured $693 million of that total, roughly 81% of all category inflows.
The strong showing marks a tentative sign that institutions are dipping back into Bitcoin after a stretch of heavy selling earlier in this year. However, it's essential to note that one week of strong inflows doesn't undo months of caution, and the market needs more than a single strong week to move decisively higher.