BlackRock Establishes 80% Dominance in Bitcoin: $1.1 Billion Influx into Crypto ETFs
US-based spot Bitcoin and Ether ETFs demonstrated their most successful weekly performance since April with a total of $1.1 billion in inflows last week.
Although trading volumes in the cryptocurrency markets continue to hover at multi-year lows, institutional investor interest is reviving. Over the past week, spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) trading in the US recorded a total of $1.1 billion in net inflows, marking the strongest surge in recent months. In particular, BlackRock‘s IBIT fund single-handedly shouldered more than 80 percent of the Bitcoin inflows, proving its market dominance once again.
On a weekly basis, Bitcoin (BTC) ETFs saw $853.5 million in inflows, while Ethereum (ETH) ETFs recorded $244.9 million. During this process, as the Bitcoin price tested the $65,300 level with a 3 percent weekly increase, Ether funds closed their fifth consecutive week in the green, achieving the longest positive streak of 2026.
Coldcard Hack and the Search for a Safe Haven
Bloomberg analyst Eric Balchunas attributes this sudden wave of inflows to the security vulnerability experienced in Coldcard hardware wallets. According to Balchunas, this weakness in cold storage methods may have directed investors toward ETFs, which they view as a safer and more regulated haven. However, this theory does not fully explain the parallel rise in Ether ETFs; because the security vulnerability in question only affected Bitcoin wallets.
This market activity took place despite low trading volumes. While the weekly volume of Bitcoin ETFs fell to $8.19 billion, aggressive accumulation by institutional whales was striking. According to CryptoQuant data, wallets holding between 10,000 and 100,000 ETH increased their assets to a record level of 19.6 million units. With US employment data falling below expectations, investors pricing in the possibility of a September rate hike was another significant factor supporting demand for crypto assets.