Bitcoin ETFs take in US$443M after Coldcard hack

• US spot Bitcoin ETFs recorded US$443 million in net inflows on August 5 after the Coldcard wallet exploit.
• Bloomberg ETF analyst Eric Balchunas said some investors may prefer ETFs over self-custody after the security breach.
• The Coldcard exploit has been linked to more than US$100 million in stolen Bitcoin (CRYPTO:BTC).

US spot Bitcoin ETFs attracted US$443 million in net inflows on August 5, following the Coldcard hardware wallet exploit.

The inflows came as Bitcoin (CRYPTO:BTC) traded around US$114,300, with ETF demand remaining strong despite market volatility.

“This has the potential to drive more assets into ETFs,” said Bloomberg ETF analyst Eric Balchunas.

BlackRock’s iShares Bitcoin Trust led the inflows with US$370 million, while Fidelity’s FBTC added US$39 million.

Bloomberg analysts said the security breach could push some investors towards regulated Bitcoin ETFs instead of managing private keys directly.

The Coldcard exploit has been linked to more than US$100 million in stolen Bitcoin from affected wallet users.

US spot Bitcoin ETFs have attracted tens of billions of dollars since launch, making them a major source of institutional Bitcoin demand.