Bitcoin ETFs Are Having Their Best Week Since April. Did the Coldcard Hack Push $853M Into Bitcoin ETFs?

Investors pulled $8.26 billion out of US spot Bitcoin ETFs across eight straight weeks through the start of July, and the funds barely recovered any of it over the rest of the month.

That has changed in the first week of August, as the funds took in $853.54 million and posted their best week since April. However, four days before that run started, hackers drained thousands of self-custody wallets in the Coldcard exploit.

So did frightened Bitcoin (CRYPTO:BTC) holders move their coins into ETFs, or is something else going on?

Bitcoin ETFs Just Had Their Best Week Since April

Investors pulled $4.51 billion out of spot Bitcoin ETFs in June, the worst month of the year, and that capped a selling run that had started back in mid-May. Buying returned in July but barely, with the funds taking in $172.43 million across the whole month, which is what a single quiet week used to bring in.

The funds then took in $853.54 million in the week ending August 7, with every one of the five sessions positive. That is five times what arrived across all of July, in five trading days.

The funds last had a bigger week on April 17, when they took in $996.38 million. Only one week since has even topped $800 million.