U.S. spot Bitcoin ETFs log $1B in weekly inflows, most since April

U.S. spot Bitcoin ETFs saw $1 billion in net inflows last week, the biggest weekly inflow since April, Bloomberg ETF analyst Eric Balchunas said on X. Balchunas said some ETFs, including BlackRock’s IBIT and Fidelity’s FBTC, posted daily net inflows after the Coldcard hack. He added it was hard to rule out the possibility that concerns over direct custody after the cold-storage hack boosted demand for ETFs. Balchunas also said it would be ironic if what he described as the worst-case scenario of a Bitcoin cold-storage hack ends up marking the start of the next bull market.