US-listed spot Bitcoin (CRYPTO: $BTC) exchange-traded funds (ETFs) attracted more than $853 million in net inflows last week, marking their strongest weekly performance since mid-April as a security breach involving Coldcard wallets renewed concerns over crypto self-custody.
Data from SoSoValue shows that the funds have maintained an inflow streak since last week, with inflows peaking at $244.42 million last Wednesday, following $211.49 million the previous day
The five-day streak brought in approximately $853.5 million, pushing cumulative net inflows to $52.18 billion. Last month, a vulnerability in Coinkite’s Coldcard hardware wallets was exploited to drain millions worth of Bitcoin from thousands of addresses. The attack is estimated to have resulted in around $130 million worth of Bitcoin being stolen.
More From Cryptoprowl: “An incident like this [Coldcard hack] may push some investors towards getting Bitcoin exposure through regulated ETFs,” Markus Levin, co-founder of DePIN project XYO, told Cryptoprowl. However, he noted that using a custodian also means giving up direct control of the underlying Bitcoin and relying on a third party to safeguard the assets. Spot Ethereum (CRYPTO: $ETH) ETFs also saw around $245 million in weekly inflows, after seeing sustained inflows over the past four trading sessions.