Bitcoin ETFs See Massive $853 Million Weekly Inflow

Spot Bitcoin ETFs started August with a major surge in demand. After a lukewarm July, these funds brought in over $853 million during the first full week of August. This streak of daily gains marks the best weekly performance for the funds since mid April.

This capital injection aligns with a noticeable recovery in the price of Bitcoin. Starting the week near $62,200, the leading asset climbed to over $65,000 by Friday. Market watchers point to the combination of these strong ETF inflows and reacting to new US jobs data as the primary drivers for the recent positive price action.

Ethereum ETFs are also gaining momentum. While they started the week with a small outflow, investors quickly shifted gears and finished the week with strong buying interest. Total net inflows for Ethereum funds now sit at $11.46 billion as the price holds steady above $1,920.

Investors are now watching to see if this trend of daily inflows can continue through the coming week. If the buying pressure remains high, it could provide the stability needed for Bitcoin to sustain its current price levels and potentially move higher in the short term.