Bitcoin ETFs pulled in $854 million last week
Bitcoin ETFs saw their strongest week since the spring, with roughly $854 million in inflows. The ETH ETFs also saw significant inflows, with $244M in net inflows last week.
The recent inflows come after an eight-week outflow streak that ended in early July. The market has been relatively flat over the weekend, but is up 3-4% on the week, with BTC at $65k.
The recent earnings reports were largely positive, but the July jobs report missed expectations, leading to a shift in the September rate hike odds. The odds of a rate hike fell from 67% to 42%, making it an underdog.