Bitcoin funds haven't seen money move in like this in four months. In the week ending August 7, US spot bitcoin ETFs pulled in $853.5 million — their largest weekly haul since the week ending April 17, when they took in nearly $996.4 million. Ether ETFs added another $244.9 million, also their best result since that same April week. Combined: $1.1 billion.
Money came in every single trading day. Tuesday brought $211.5 million, Wednesday $244.4 million, then a bit less on Thursday ($128.7 million) and Friday ($98.9 million). Bitcoin itself rose roughly 3% on the week and touched an August high above $65,300 on Friday.
The trigger was the US jobs report: instead of the 80,000 new jobs economists expected, the economy shed 23,000 in July. For traders, that reads as a fairly clear sign the Fed won't raise rates in September — which leaves risk assets like bitcoin room to run. ETF flows work as a useful gauge here: big institutional money doesn't buy bitcoin directly, it buys the wrapper, so the size of these inflows shows how much appetite for risk is actually out there right now.
It's too early to call this a turning point, though. Both bitcoin and ether funds only just climbed out of an eight-week outflow streak in late July, after taking sizable losses during a chip-stock selloff in Asia. Trading volume last week stayed thin even as the money flowed in steadily rather than in a rush. One strong week after months of whiplash looks more like a breather than proof of a durable rally.
