started · updated
Bitcoin ETFs see strongest weekly inflows since April amid Coldcard security breach
US spot Bitcoin ETFs experienced a significant surge in institutional demand, recording their strongest weekly inflows since April, totaling between $850 million and $1 billion. BlackRock’s iShares Bitcoin Trust (IBIT) led this trend, accounting for approximately $693 million of the weekly inflows. This influx occurred alongside Bitcoin trading in the $63,000 to $65,000 range.
The surge in ETF interest coincided with a major security breach involving Coldcard hardware wallets. The exploit, which affected more than 5,200 addresses, resulted in estimated losses of approximately 1,730 to 2,100 Bitcoin. In response to the breach, significant amounts of Bitcoin were moved for safety, including a transfer of 233,000 BTC from long-term holder wallets.
Despite the strong weekly inflows, market sentiment remains mixed. On August 10, the trend briefly reversed with net outflows of approximately $144.67 million from Bitcoin ETFs and $14.59 million from Ethereum ETFs. Additionally, Bitcoin long exposure has reached a record 361,000 BTC, valued at roughly $23.4 billion, raising concerns about potential market volatility if prices decline.
Entities
Binance · Bitcoin · Bitcoin · BlackRock · Coldcard · Ethereum · Federal Reserve · Fidelity · Galaxy Research · MicroStrategy · Robert Mitchnick · U.S. Bureau of Labor Statistics
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The Coldcard incident was a security mismanagement issue rather than a breach of the Bitcoin protocol. bitcoinmagazine.com
- [● 5 SOURCES] The Coldcard hack resulted in losses estimated between $116 million and $130 million in Bitcoin. cryptobriefing.com · bitcoinmagazine.com
- [● 3 SOURCES] BlackRock’s iShares Bitcoin Trust (IBIT) accounted for approximately $693 million of the weekly ETF inflows. cryptobriefing.com
- [● 4 SOURCES] Bitcoin price has recently traded in the $63,000 to $65,000 range. cryptobriefing.com · bitcoinmagazine.com · www.tronweekly.com · coindoo.com
- [● 7 SOURCES] US spot Bitcoin ETFs saw weekly inflows between $850 million and $1 billion. cryptobriefing.com · londonlovesbusiness.com · bitcoinmagazine.com · coinpaper.com
- [● 3 SOURCES] The surge in ETF inflows followed a security breach involving Coldcard hardware wallets. cryptobriefing.com · bitcoinmagazine.com
- [● 3 SOURCES] US spot Bitcoin ETFs hold nearly $80 billion in assets under management. bitcoinmagazine.com · cryptobriefing.com
- [● 2 SOURCES] ETF investors are consistently buying and holding Bitcoin long-term during market downturns. bitcoinmagazine.com
- [● 4 SOURCES] The Coldcard hardware wallet hack affected more than 5,200 addresses. cryptobriefing.com · www.btc-echo.de
- [● 2 SOURCES] Bitcoin long exposure reached a record 361,000 BTC, valued at approximately $23.4 billion. ambcrypto.com
- [● 4 SOURCES] US spot Bitcoin ETFs recorded their largest weekly inflow since April. cryptobriefing.com · londonlovesbusiness.com · bitcoinmagazine.com
- [○ 1 SOURCE] There is no direct evidence that Coldcard users specifically moved their remaining assets into ETF products. cryptobriefing.com