Bitcoin ETFs see $853M in weekly inflows

Bitcoin ETFs recorded $853 million in net inflows for the week ending August 7, with BlackRock’s IBIT accounting for $693 million of that total. This institutional demand arrived while the Fear and Greed Index sat at 25, indicating extreme fear in the market.

In the broader cryptocurrency market, XRP and Ethereum continue to see activity. XRP is trading near $1.02, supported by news of Mastercard completing a $1.8 billion acquisition of Ripple partner BVNK and XRP entering a $280 million lending pool. Ethereum is trading near $1,866, with market discussions focused on staking rewards and potential price forecasts.

Additionally, the Pepeto presale has reportedly raised over $10.6 million. The project, which features an AI risk scorer and cross-chain bridge capabilities, is gaining attention ahead of a potential Binance listing.