Bitcoin and Ethereum ETFs see strongest inflows since May

Spot Bitcoin exchange-traded funds attracted roughly $854 million in inflows last week, their strongest week since spring and their largest genuine inflow since an eight-week outflow streak that ran through June and early July. Ethereum ETFs saw even stronger relative inflows of $244 million, which on a market cap-adjusted basis translates to the equivalent of approximately $1.25 billion in Bitcoin inflows.

The inflow reversal came as corporate earnings reports from the prior week proved largely positive and the July jobs report fell short of expectations, with the economy shedding 23,000 jobs instead of gaining 80,000. That weakness pushed September interest rate hike odds down from 67 percent to 42 percent. Bitcoin and Ethereum each gained 2 percent over the week, modest moves that nonetheless signal flows are returning as a potential bottom takes shape in recent market conditions.