U.S. spot Bitcoin exchange-traded funds attracted approximately $1 billion in net inflows over the past week, their strongest performance since April and the third-best week since last October. Bloomberg ETF analyst Eric Balchunas highlighted this rebound as a sign of renewed institutional demand after months of uneven flows. This trend follows the hack of hardware wallet Coldcard, which resulted in approximately $116 million worth of Bitcoin being stolen, with some investors now preferring ETFs to self-custody. Balchunas suggested the hack could accelerate this migration toward ETFs, though he acknowledged that correlation would not imply causation.
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