Bitcoin ETFs Attract $924M Inflows, But BTC Remains Below $80,000

US spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded $924 million in net inflows from Aug. 24 to Aug. 28. BlackRock’s iShares Bitcoin Trust (IBIT) led with $938 million, according to SoSoValue data. Despite the demand, Bitcoin’s price stayed stuck below $80,000.

Spot Ether (ETH) ETFs added $824 million over the same stretch. BlackRock’s ETHA fund led that category too, extending its own inflow streak to 10 straight trading days. Both products drew strong institutional demand, even as Bitcoin struggled to hold its recent gains.

Why Bitcoin’s Price Isn’t Following ETF Money

The stall traces largely to the Federal Reserve. Fed Chair Kevin Warsh delivered a hawkish keynote at the Aug. 28 Jackson Hole Economic Policy Symposium.

He warned that inflation remained a bigger concern than the labor market and declined to rule out a rate hike. Bitcoin slid from around $79,500 to below $77,000 in the hours that followed. Traders priced in higher odds of a hike at the Fed’s September meeting.

Bitcoin also faces a longer-term technical hurdle. On-chain analytics firm CryptoQuant has pointed to a bull market confirmation tied to Bitcoin’s 365-day moving average, near $83,000. BTC has repeatedly failed to close above that level, despite its rally from the mid-$60,000s.