BlackRock Drives Bitcoin ETF Demand as BTC Lags Stocks

US spot Bitcoin ETF data recorded $853.5M in net inflows across five consecutive trading sessions, according to CoinGlass data. FXStreet described the run as the category’s strongest weekly performance since mid-April.

The rebound followed a weaker stretch of flows. US spot Bitcoin ETFs absorbed $626M over the first three trading days of August, led by BlackRock’s IBIT with roughly $479M of that total.

(SOURCE: CoinGlass)

That early-August burst came after net outflows reached $265.4M on July 31, ending a month in which the category lost billions in cumulative inflows.

The differing pace of ETF flows and Bitcoin’s performance remains a key feature of the rebound. The five-session inflow streak showed renewed demand for the funds, while FXStreet’s market comparison showed Bitcoin lagging major US equity benchmarks over the same period.

Bitcoin ETF Inflows: What the Rebound Shows

(SOURCE: TradingView)

In the first two trading days of August, net inflows totaled $381.6M, surpassing July’s $172.43M. By August 3, cumulative inflows reached $626M.

The demand was primarily driven by IBIT, which attracted $111.4M on August 3, while Fidelity’s FBTC and Franklin Templeton’s EZBC added $33.4M and $9.2M, respectively.

On August 4, total inflows rose to $211.49M, with IBIT accounting for $170.35M. The strongest day was August 5, with net inflows of $244.4M and IBIT contributing $196.83M.

Over three days, IBIT’s inflows reached $479M, bringing its cumulative total to nearly $61Bn. A report on August 12 noted that over 80% of Bitcoin and Ethereum ETF inflows during that period were directed towards BlackRock products, indicating a surge primarily influenced by them.

Bitcoin Trails Stocks Despite ETF Demand

FXStreet’s comparison of Bitcoin’s 2.15% weekly gain with the S&P 500’s 3.51% return and the Nasdaq’s 5.09% gain highlights a divergence between renewed ETF demand and Bitcoin’s relative performance.

TheStreet’s earlier reporting placed Bitcoin at approximately $64,744, up 0.7% over 24 hours but still below the $70,920 resistance level.

In its August 12 report, FXStreet said Bitcoin was trading near $63,514, down 0.6% over the previous 24 hours at the time of writing.

The report cited Wintermute’s view that improving ETF flows were encouraging but insufficient on their own to establish a structural inflow trend. Wintermute also said the divergence between Bitcoin and other risk assets suggested ETF demand was still meeting selling pressure.

The available data show that ETF inflows and spot-price performance can move differently over the same period. The first three August sessions delivered a notable improvement in fund flows, while Bitcoin remained below the resistance level identified in TheStreet’s reporting.

Inflation Data and Jackson Hole in Focus

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The Fear and Greed Index stood at 25, in extreme-fear territory, as the early-August inflow streak developed. In its August 12 report, FXStreet identified US CPI and PPI inflation releases that week, the Jackson Hole meeting later in the month, and cloture on the CLARITY Act as major catalysts.

FXStreet also reported that the July CPI release was set for today (August 12). The data from this CPI release could decide the direction of crypto for the remainder of August.

Whether the renewed ETF demand marks a sustained reversal or a brief technical bounce remains unresolved.

The first three trading days of August brought $626M in net inflows, while the later five-session total reported by FXStreet reached $853.5M.

Whether those flows continue, and whether Bitcoin’s price response strengthens, remained the central question in the reporting.

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