BlackRock's IBIT gobbles $693M of $853M ETF inflow sundae 🍦

U.S.-listed spot bitcoin ETFs absorbed $853.54 million in net inflows during the week ended Aug. 7, the largest weekly haul since mid-April, according to data from SoSoValue. BlackRock's IBIT dominated the intake, pulling in $693 million on its own. Bitcoin ($BTC) traded near $65,214.83, up 0.27%, having held steady around $64,000 earlier in the week.

The renewed demand offers a tentative signal that institutional buyers are returning after the heavy selling earlier this year. Negative headlines ranging from a multi-million-dollar Coldcard hack to rising U.S. government bond yields have failed to disrupt the spot market. Friday's unexpectedly weak July U.S. jobs report has trimmed expectations for further Federal Reserve rate hikes, a shift some analysts say could keep institutional demand for the funds intact.

Despite the latest surge, the ETF complex remains in the red on a year-to-date basis, with cumulative net outflows of roughly $4.5 billion. That deficit helps explain the selling pressure that pushed BTC down 33% to below $60,000 by the end of June. Previous bull cycles suggest sustained inflows of more than $1 billion per week are typically required to drive a meaningful price rally; between April and October 2025, BTC climbed from roughly $75,000 to a record $126,000 on several weeks of inflows exceeding that threshold.

The next test for the funds comes on Aug. 12, when the U.S. July CPI print is scheduled for release. That data point is widely expected to shape both near-term rate expectations and the appetite for spot bitcoin ETF allocations.