Bitcoin investors pour $853 million into spot ETFs. BlackRock’s IBIT claims the bulk

Bitcoin $BTC$65,134.37 exchange-traded funds (ETFs) pulled in $853.54 million in net inflows for the week ended Aug. 7, the largest weekly total since mid-April, according to data from SoSoValue.

BlackRock’s IBIT accounted for the bulk of the activity, attracting $693 million on its own.

This surge in inflows offers a tentative sign that institutions are dipping back in after the heavy selling earlier this year.

Recent bitcoin price action has looked more constructive. Negative headlines, including a multi-million-dollar Coldcard hack and rising government bond yields, have failed to dent the spot market. Bitcoin held steady at around $64,000 early this week and traded at around $65,100 as of this writing.

Friday’s unexpectedly weak U.S. jobs report for July has cooled bets on further Federal Reserve rate hikes for now, potentially clearing the path for continued institutional buying in ETFs.

What next?

The latest spike in inflows represents only one week of data. On a year-to-date basis, the ETFs remain roughly $4.5 billion in the red due to net outflows. This helps explain the heavy selling pressure seen during the first six months of the year, when Bitcoin fell 33% to below $60,000 by the end of June.

The takeaway, therefore, is that $BTC will need consistently strong inflows to mount a meaningful price rally.

Data from previous bull runs also suggests the same. For example, between April and October 2025, $BTC climbed from roughly $75,000 to a record high of $126,000. During that period, weekly inflows into the ETFs exceeded $1 billion on several occasions.

The focus now shifts to the July U.S. CPI data, due on Aug. 12. This key variable could influence both ETF inflows and bitcoin’s price trajectory.