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BTC Weekly net inflows of Bitcoin ETFs in the United States hit a new high since April, with BlackRock IBIT leading the way.
According to SoValue data, in the week ending August 7, the total net inflows of Bitcoin exchange-traded funds (ETFs) in the United States reached US$853.54 million, setting a record for the strongest new investment in a single week since mid-April. The rebound in ETF inflows came after continued selling pressure in recent months put pressure on Bitcoin prices.
BlackRock IBIT dominates weekly inflows
Among the total inflows, BlackRock's iShares Bitcoin Trust (IBIT)-a leading spot Bitcoin ETF-contributed US$693 million, far exceeding other similar funds. BlackRock is a world-renowned large asset management company with an extensive ETF product line in the financial market.
Other spot bitcoin ETFs in the United States also recorded positive inflows, but the aggregate contribution was significantly smaller. The strong demand for IBIT highlights the growing interest of institutional investors in returning to the space.
Analysts believe that the rebound in ETF inflows is an early signal that institutions are rebuilding confidence in their exposure to bitcoin after a large divestment earlier this year.
Last week, IBIT had a net inflow of US$693 million, leading all U.S. spot Bitcoin ETFs, further consolidating BlackRock's dominant position in the market.
Market sentiment and price trend
Despite market headwinds, Bitcoin prices remain resilient. Negative news-including the recent multimillion-dollar Coldcard wallet hack and rising U.S. Treasury yields-has not significantly affected Bitcoin's spot value. At the beginning of this week, the trading price of the cryptocurrency was close to US$64,000, and as of the latest data, it has risen to approximately US$65,100.
The weaker-than-expected U.S. July employment data released last Friday seemed to alleviate market concerns about the Federal Reserve's further interest rate hikes, which may prompt more institutions to allocate funds to Bitcoin ETFs.
Despite the recent surge in ETF inflows, US-listed spot Bitcoin ETFs have still accumulated a net outflow of approximately US$4.5 billion so far this year. The market continued to experience selling in the first half of 2024, causing the price of Bitcoin to fall 33% at the end of June, falling below $60,000.
Overview of key data
Week ended August 7, 2024: Net inflow of US$853.54 million, Bitcoin price range of US$64,000 to US$65,100.
Year-to-date 2024: Net outflow of US$4.5 billion, and Bitcoin prices fell from approximately US$89,000 at the beginning of the year to below US$60,000 at the end of June.
Refer to the previous bull market cycle (April to October 2025): Weekly net inflows continued to exceed US$1 billion, and the Bitcoin price climbed from approximately US$75,000 to a record high of US$126,000.
Expectations and Outlook
Market observers point out that continued capital inflows are necessary for Bitcoin to achieve a significant rebound. Past bull markets have shown that when weekly net ETF inflows exceed $1 billion, they are often accompanied by strong price increases. For example, between April and October 2025, Bitcoin prices climbed from approximately US$75,000 to a historical peak of US$126,000, while weekly net ETF inflows exceeded US$1 billion several times.
Market attention is now turning to the July U.S. Consumer Price Index (CPI) data to be released on August 12. This key economic indicator could affect investor sentiment and determine the direction of ETF inflows in the coming weeks.
As investors assess new macroeconomic data, sustained and strong ETF inflows are likely to play a key role in supporting future price growth of Bitcoin.
