Bitcoin and Ethereum ETFs draw $1.1 billion as wallet hack revives self-custody debate

Bitcoin and Ethereum ETFs attracted a combined $1.1 billion last week, including roughly $1 billion into US spot Bitcoin ETFs, with BlackRock's IBIT contributing about 80% of Bitcoin inflows even as BTC ETF trading volume fell to its second-lowest weekly level since October 2024. Bloomberg ETF analyst Eric Balchunas said the week was Bitcoin's third-best for inflows since October and came after a $116 million Coldcard hardware-wallet exploit that may, though not provably, push some investors toward regulated products over self-custody. Corporate treasury activity also stayed prominent: Strategy CEO Phong Le said the company plans to resume buying later this year after selling about 7,000 BTC against roughly 175,000 BTC of purchases, Riot Platforms announced a 20-year, 191-megawatt AI infrastructure deal Bloomberg identified as Anthropic and valued at $9 billion, and Trump Media said unrealized crypto and securities losses helped drive a $238 million second-quarter net loss as it reworks its digital-asset treasury strategy.

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