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Spot Bitcoin ETFs see $853.5 million net inflow in week ended Aug. 7

BlackRock’s IBIT led with $693 million in net inflows, while assets remain about $4.5 billion lower year to date.

Reported · Written up by our desk · ETFs

U.S.-listed spot Bitcoin ETFs pulled in $853.5 million of net inflows in the week ended Aug. 7, the largest weekly total since mid-April, according to data cited by CoinDesk from SoSoValue.

CoinDesk reports that BlackRock’s IBIT accounted for the bulk of the week’s buying, drawing $693 million, as the inflow surge is seen as a tentative sign institutions are returning after earlier heavy selling.

The article says Bitcoin was trading around $64,000 to $65,100 in the early part of the week, and that recent negative headlines and higher government bond yields did not appear to derail the spot market.

Still, CoinDesk notes the rally depends on follow-through, adding that on a year-to-date basis, spot Bitcoin ETFs remain roughly $4.5 billion in the red due to net outflows, with attention now on July U.S. CPI data due Aug. 12.

Latest closeBitcoin $65,176.44 ▲0.4%

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