Bitcoin ETF Inflows Top $750M in August Despite Senate Vote Delay

Bitcoin spot ETFs are on track for their strongest weekly inflows since April, according to SoSoValue data, having drawn $754.69 million this week. Nexo analyst Liya Kalchev reports that ETF inflows have already exceeded $500 million in August, with a single day on Wednesday accounting for more than $240 million. This represents a sharp reversal after June, when the products recorded their weakest month on record.

On-chain data from Santiment shows that while smaller investors continue to sell, larger holders are accumulating. Wallets holding between 10 and 10,000 BTC have added more than 20,000 BTC—worth nearly $1.2 billion—since July 29, predominantly at prices below $65,000. The analytics firm has historically observed that whale buying during periods of retail selling has supported price increases in previous market cycles.

However, institutional demand has not yet translated to significant price movement. Kalchev noted that the careful buying pattern suggests institutions are not chasing prices, and that Bitcoin would need a convincing close above $65,000 to establish stronger recovery momentum.

Separately, a Bitcoin wallet dormant since 2011 recently moved its coins, though they were not subsequently sold. The transfer could reflect a wallet upgrade or custody change. The activity coincides with heightened awareness following the Coldcard hardware wallet exploit, which has been linked to approximately $114 million in stolen Bitcoin, prompting long-term holders to review their storage arrangements.