Bitcoin ETFs raise $1.92 billion in one week

Spot Bitcoin ETFs recorded nearly $1.92 billion in net inflows in the week of August 17-21. That is one of the strongest weeks in months. ETFs on other cryptos also showed positive figures: Ethereum ETFs booked $697 million, XRP ETFs $39.78 million, Solana ETFs $28.34 million and HYPE ETFs $3.89 million in net inflows. Bitcoin is currently at $77K.

Bitcoin is available at OKX and Bybit.

In brief:

• Spot Bitcoin ETFs recorded $1.92 billion in net inflows last week
• Ethereum ETFs also had a strong week with $697 million
• XRP, Solana and HYPE ETFs also recorded positive inflow figures

Bitcoin ETFs attract most capital

The weekly inflow figures for spot Bitcoin ETFs show a clear recovery. With nearly $1.92 billion in net inflows over five trading days, it is one of the strongest weeks in quite some time. Total net assets in spot Bitcoin ETFs now stand at $96.07 billion, according to figures from SoSoValue.

The inflow wave ties in with a broader recovery of the Bitcoin price. Earlier this month, Bitcoin ETFs already posted positive inflow figures for five consecutive days, but last week’s figures are clearly above that.

Ethereum and other ETFs follow suit

Ethereum ETFs also had a strong week with $697 million. That is striking, because in recent months the inflow figures for Ethereum ETFs have been far more erratic than those for Bitcoin.

XRP ETFs recorded $39.78 million and Solana ETFs $28.34 million in net inflows. HYPE ETFs, based on the Hyperliquid token, saw $3.89 million come in. The broad inflow across multiple crypto ETFs points to increased risk appetite among institutional investors. An earlier Bitcoin rally already led to the largest inflow wave at Binance since February, reflecting a similar sentiment.

Bitcoin tests resistance levels

Bitcoin is trading around $77K at the time of writing, up 1.2% in the past 24 hours. Earlier, Bitcoin already encountered resistance around $79.3K, indicating that the price does not yet have a clear path to higher levels.

Whether the strong ETF inflow pushes the price further up partly depends on how the market deals with the current resistance levels. Analysts are closely monitoring whether Bitcoin can break through a crucial threshold that marks the difference between further correction and a sustained recovery.