U.S. spot Bitcoin exchange-traded funds recorded $924 million in net inflows during the final week of August. BlackRock’s iShares Bitcoin Trust ($IBIT) led all products by absorbing $938 million in capital over that span. Meanwhile, spot Ether funds added $824 million, with BlackRock’s ETHA ($ETHA) extending its positive inflow streak to 10 consecutive trading sessions.
Despite strong institutional buying across August, total fund flows turned negative on August 28. A single-day outflow of $201.81 million ended a nine-day streak of positive inflows. Even so, August closed as 2026’s highest-performing month on record for spot crypto ETFs, attracting more than $3 billion in net new capital.
Central Bank Policy Capped Bitcoin’s Price Gains
Central bank policy kept a lid on Bitcoin’s price (BTC-USD) gains. Federal Reserve Chair Kevin Warsh gave a speech at Jackson Hole warning that high inflation is still a top concern. After his talk, traders bet on a rate hike in September, dropping Bitcoin from $79,500 to under $77,000.
Chart levels continue to hold buyers back. CryptoQuant data indicates Bitcoin must close above its 365-day moving average near $83,000 to lock in long-term gains. The price has struggled to beat that level even after rising steadily from the mid-$60,000s.
Big Funds Are Still Keen on Bitcoin
BlackRock ($BLK) digital asset head Robert Mitchnick said big funds stay keen on Bitcoin regardless of short-term price moves or legal changes. Mitchnick noted that institutional buyers do not need the CLARITY Act to pass to buy Bitcoin, unlike complex DeFi tokens that still need clearer rules. He added that growing national debt and inflation worries keep driving long-term demand for Bitcoin among companies and younger investors. BlackRock’s IBIT fund now holds $98.6 billion in total assets after taking in $55 billion in overall inflows.
Despite recent inflows, leading Bitcoin funds continue to mirror underlying BTC price declines, as data from the TipRanks ETF comparison tool shows most major spot Bitcoin ETFs down over 30% over the past year.
