Best weekly performance since mid-April, U.S. spot Bitcoin ETFs saw $854 million in inflows last week

Odaily News: BlackRock's Head of Digital Assets, Robert Mitchnick, stated that Bitcoin market sentiment has shown a clear but limited improvement over the past month, and Bitcoin's correlation with U.S. equities is weakening. This supports the argument for Bitcoin as a portfolio diversification tool and a tail-risk hedge. When the AI sector experienced a sharp pullback in July, Bitcoin significantly outperformed, reflecting this decoupling. Despite Bitcoin being down nearly 30% year-to-date and roughly 50% from a year ago, ETF investors have continued to buy. Last week, U.S. spot Bitcoin ETFs recorded $854 million in inflows, marking the best weekly performance since mid-April, with BlackRock's IBIT contributing $694 million, accounting for over 80%, and Fidelity's FBTC adding $116 million.