Bitcoin ETF sees 8 consecutive days of net inflows totaling $2.8 billion, marking the strongest capital inflow in 10 months

Odaily Planet Daily News: Bitcoin News posted on the X platform that U.S. spot Bitcoin ETFs have recorded net inflows for 8 consecutive days, totaling $2.8 billion, making August the strongest month for capital inflows since 2026.

As Bitcoin and gold rise in tandem, investors are increasingly seeking to hedge against risks from a weakening U.S. dollar, persistent inflation, and widening fiscal deficits. Gold funds have also seen record demand.

This shift is beginning to show up in ETF trading. IBIT and GLD have returned to the ranks of the top 10 most-traded ETFs, after semiconductor funds dominated for most of the summer.

BlackRock stated that another key source of demand comes from existing Bitcoin holders moving their tokens into ETFs. The company has so far processed approximately $5 billion in deferred-tax Bitcoin transfers into ETFs, with the minimum conversion amount recently lowered from $25 million to $1 million.

Robbie Mitchnick, Head of Digital Assets at BlackRock, said: "As we continue to expand access, this scale will keep growing."

Mitchnick noted that events such as kidnappings, ransomware attacks, and custody failures are pushing some Bitcoin holders to shift toward ETF custody.

Bitcoin and gold are once again converging on the same core macro narrative, as the currency debasement trade makes a comeback.