Significant investment pushed Bitcoin and Ether funds to their strongest weekly performance since April.
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U.S. spot Bitcoin and ether exchange-traded funds experienced a surge in inflows last week, totalling $1.1 billion, according to data released this weekend. The combined investment represents the most robust weekly performance for these funds since April 2026, coinciding with reports of a significant exploit affecting cold storage Bitcoin holdings by crypto firm BlackRock.
BlackRock’s IBIT fund accounted for approximately 80% of Bitcoin inflows, reaching $853.5 million over the week. Fidelity’s FBTC fund contributed 13%, with $116.4 million in investment. The surge followed reports from Galaxy Research that estimated total losses from the Coldcard hack at around $111 million, though this figure is reportedly subject to further revision.
Spot ether (ETH) ETFs saw inflows of $244.9 million, marking their most successful week since April 2026. This represents a continuation of five consecutive positive weeks for Ether ETFs, representing the longest run of positive returns seen during 2026. Ethereum traded around $1,920 on Saturday morning.
According to Bloomberg Intelligence Senior ETF Analyst Eric Balchunas, the connection between the Coldcard hack and the inflows is allegedly being actively considered. He reportedly suggested that a “would be ironic, but somehow on brand, if the hack of btc in cold storage… marked the beginning of next run”. K33 measured 890,000 BTC moving on-chain over seven days with a peak of $65,300 achieved on Friday.
CryptoQuant data indicated that wallets holding between 10,000 and 100,000 ETH had increased their holdings from approximately 14 million to nearly 19.6 million, while OKX reportedly attributed the inflows to the Coldcard incident. Trading volume for Bitcoin ETFs decreased by 9% compared to the previous week, reaching $8.19 billion. Ether ETF volume totalled $2.38 billion.
The data highlights a complex dynamic within the cryptocurrency market, linking security vulnerabilities with investor appetite amid price movements. Ongoing monitoring of market activity remains crucial as BlackRock and Fidelity continue to manage substantial assets within the expanding spot crypto ETF landscape.
Written by Oliver Grant
Markets Desk
