Bitcoin exchange-traded funds (ETFs) experienced significant investor interest last week, attracting $853.54 million in net inflows, the highest weekly figure since mid-April, with BlackRock’s IBIT leading the charge.
According to data from SoSoValue, the inflows for the week ending August 7 were largely driven by BlackRock’s IBIT, which alone garnered $693 million. This surge indicates a potential return of institutional investment following a period of substantial sell-offs earlier this year.
Despite facing negative news, such as a major hack involving Coldcard and rising government bond yields, Bitcoin has shown resilience, remaining stable around $64,000 at the start of the week and trading at approximately $65,100 at the time of reporting.
The recent unexpectedly poor jobs report from the U.S. for July, which revealed a loss of 23,000 jobs instead of the anticipated gain of 80,000, has led to a reduction in expectations for further interest rate hikes by the Federal Reserve. This development may facilitate continued institutional investment in Bitcoin ETFs.
Future Outlook
While the recent inflow spike is promising, it is important to note that the ETFs are still down about $4.5 billion year-to-date due to prior net outflows, which explains the heavy selling pressure that saw Bitcoin’s price drop 33% to below $60,000 by the end of June.
For Bitcoin to initiate a substantial price rally, it will require ongoing strong inflows. Historical data from previous bull markets supports this assertion; for instance, between April and October 2025, Bitcoin surged from approximately $75,000 to a record high of $126,000, coinciding with several weeks of inflows surpassing $1 billion.
The market’s attention will now turn to the U.S. Consumer Price Index (CPI) data for July, set to be released on August 12, as this could impact both ETF inflows and Bitcoin’s price trajectory.