Spot Bitcoin and Ethereum ETFs See Strongest Inflows Since April, Driven Largely by BlackRock Products

US-listed spot Bitcoin and Ethereum exchange-traded funds experienced a surge in investor interest this week, drawing over $1 billion in combined inflows, marking their strongest weekly performance since April.

According to data from SoSoValue, spot Bitcoin ETFs attracted $853.54 million during the week ending August 7, representing their largest weekly inflow in nearly four months.

The funds recorded consistent daily inflows throughout the week, starting with $170.09 million on Monday, followed by $211.49 million on Tuesday and $244.42 million on Wednesday, before flows stabilized later in the week.

This figure exceeded the approximately $824 million collected during the week of April 24 and marked the strongest performance since the week ending April 17, when Bitcoin funds drew about $996 million.

BlackRock’s iShares Bitcoin Trust (IBIT) led the charge, contributing roughly $693 million to the weekly total, accounting for over four-fifths of all new capital entering the spot Bitcoin funds.

These inflows build upon the significant assets under management these products have accumulated since their launch in January 2024. Collectively, they have garnered over $52 billion in net inflows and currently manage approximately $80 billion in assets.

Coldcard Hack Raises Questions About Digital Asset Custody Solutions

The renewed demand coincides with recent disclosures of a security vulnerability affecting Coldcard hardware wallets, reigniting discussions around digital asset custody strategies.

TRM Labs researchers estimate that hackers siphoned approximately 1,816 BTC—valued at around $116 million—from over 5,200 addresses beginning July 30. Alternative estimates place the losses closer to $130 million as investigations continue.

Bloomberg Intelligence ETF analyst Eric Balchunas noted the timing of the fund flows in relation to the Coldcard incident, though he stopped short of asserting a direct correlation between the breach and investor migration to ETFs.

He suggested that the incident may reinforce the appeal of institutional-grade custody solutions for investors primarily focused on long-term Bitcoin exposure rather than transactional use or privacy-focused applications.

Balchunas emphasized that the security infrastructure offered by major financial institutions could become increasingly attractive to investors following failures in self-custody technologies explicitly designed to operate outside traditional banking systems.

To date, there is no conclusive evidence linking the Coldcard breach directly to the recent ETF inflows. However, the timing underscores the ongoing debate between self-custody autonomy and institutional security within the cryptocurrency ecosystem.

Ethereum ETFs Extend Five-Week Streak of Positive Flows

Ethereum-focused ETFs demonstrated even stronger momentum, collecting $244.94 million during the same period—their strongest weekly inflow since April—and extending their streak of positive weekly flows to five consecutive weeks.

This current run has brought approximately $566 million into the products and represents the longest weekly inflow streak for Ethereum funds this year. The only comparable period was a 14-week stretch between May and August 2025 that attracted nearly $10 billion.

In contrast to Bitcoin funds, Ethereum ETFs began the week with minor outflows, recording $11.42 million in net redemptions on Monday.

Investor sentiment shifted dramatically thereafter, with inflows of $53.75 million on Tuesday, $60.86 million on Wednesday, and $92.15 million on Thursday, followed by an additional $49.60 million on Friday.

BlackRock maintained its dominant position across both asset classes, with its iShares Ethereum Trust (ETHA) attracting approximately $203 million during the week—representing over 80% of total inflows in the Ethereum ETF category.

The concentration of inflows in BlackRock products highlights the firm’s growing influence in shaping investor access to cryptocurrencies through regulated investment vehicles.

The combined strength of Bitcoin and Ethereum ETFs during this period signals renewed institutional appetite for crypto exposure, offering a stark contrast to the subdued flows observed throughout much of the summer months.

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