US-listed spot Bitcoin (CRYPTO: $BTC) exchange-traded funds (ETFs) attracted more than $853 million in net inflows last week, marking their strongest weekly performance since mid-April as a security breach involving Coldcard wallets renewed concerns over crypto self-custody.
Data from SoSoValue shows that the funds have maintained an inflow streak since last week, with inflows peaking at $244.42 million last Wednesday, following $211.49 million the previous day. The five-day streak brought in approximately $853.5 million, pushing cumulative net inflows to $52.18 billion.
Last month, a vulnerability in Coinkite's Coldcard hardware wallets was exploited to drain millions worth of Bitcoin from thousands of addresses. The attack is estimated to have resulted in around $130 million worth of Bitcoin being stolen.
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"An incident like this [Coldcard hack] may push some investors towards getting Bitcoin exposure through regulated ETFs," Markus Levin, co-founder of DePIN project XYO, told Cryptoprowl.
However, he noted that using a custodian also means giving up direct control of the underlying Bitcoin and relying on a third party to safeguard the assets.
