Bitcoin & Ethereum ETFs Scoop Up $1B+ as BlackRock Leads

Big week for Bitcoin and Ethereum ETFs

US-listed spot Bitcoin and Ethereum exchange-traded funds pulled in more than $1 billion in net new cash in the week ended Aug. 7 — their best showing since April. Bitcoin-focused ETFs led the charge, grabbing roughly $853.5 million for the week. They saw steady daily inflows, about $170.1 million on Monday, $211.5 million on Tuesday and $244.4 million on Wednesday before things cooled off later in the week.

Ethereum-focused ETFs also enjoyed a pop, taking in about $244.9 million during the same period. That extended their streak to five straight weeks of inflows and added roughly $566 million over that run. Both groups’ recent gains point to renewed appetite for regulated crypto exposure after a relatively quiet summer.

It’s worth noting how concentrated the buying was: two BlackRock funds — the iShares Bitcoin Trust (IBIT) and the iShares Ethereum Trust (ETHA) — accounted for the lion’s share of the demand. IBIT alone drew around $693 million, while ETHA added roughly $203 million. Together they absorbed about $896 million, or more than four-fifths of the roughly $1.1 billion that flowed into the two ETF categories that week.

These flows build on what ETFs have already collected since their US debut in January 2024: the group has accumulated tens of billions in net inflows and now oversees a very large pool of assets under management, making regulated funds a major channel for institutional and retail exposure to crypto.

Why the timing matters — hacks, custody and the tug-of-war over safety

The inflow story came right after headlines about a major hardware wallet breach, which unsurprisingly refocused attention on custody and security. Researchers traced a theft that began around July 30, estimating roughly 1,816 BTC — on the order of $116 million — were taken from a large number of addresses. Other estimates put the losses closer to $130 million as investigators continue to follow the trail.

There’s no smoking-gun proof that the hack directly pushed people into ETFs, but the timing is suggestive. When a wallet meant to be ultra-secure gets hit, investors who are more interested in long-term exposure than in running their own self-custody setup may rethink the risk/benefit math. For those folks, the security teams, insured custody arrangements and operational rigor at big financial institutions suddenly start to look a lot more attractive.

Analysts have pointed out that institutional custody may gain credibility after incidents like this, especially for investors prioritizing safety and ease over absolute decentralization. In short: whether it’s panic, prudence, or plain old FOMO, the week’s flows show that Wall Street’s regulated doors remain a major route back into crypto.

Bottom line: ETFs had a banner week and BlackRock took most of the new money. Whether this is a short-lived binge or the start of a steadier rebuild of exposure remains to be seen, but for now the story is clear — big, regulated vehicles are back in play and the custody conversation just got louder.