Crypto Winter Melts: Biggest Weekly Crypto ETF Buying Spree Since the October Flash Crash
Quick Read
IBIT surged 25% in a month as $3.2 billion in weekly crypto fund inflows marked the biggest haul since October’s flash crash.
A net-outflow day for IBIT or flows falling below the $1.3 billion weekly average puts the August low of $63,499 back in play.
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Bitcoin trades at $78,142 this morning, and the iShares Bitcoin Trust ETF (NASDAQ:IBIT) closed yesterday at $44.67, up 1.75% on the session. Zoom out and the picture sharpens: Bitcoin (CRYPTO:BTC) has rallied 24% over the past month, rising over $15,000 from just under $63,000 to over $78,000, and IBIT itself is up 25.34% over the same window. That is the biggest one-month advance for the ETF since it began trading, and it lands after a brutal year in which Bitcoin still sits down 27.93% from a year ago.
The buying showed up in the fund flows before it showed up in price.
Where the Bid Actually Came From
According to BofA Global Research data, crypto funds attracted $3.2 billion in inflows last week, their largest weekly intake since October 2025. IBIT alone pulled in $928 million last week, following $1.3 billion in the prior week, its biggest two-week haul since the October 2025 flash crash. Stretch the lens further and crypto funds have averaged $1.3 billion in weekly inflows over the last four weeks, their largest four-week average in 10 months.
The mechanism is straightforward. IBIT is a spot Bitcoin ETF: 99.93% of its assets sit in the iShares Bitcoin Trust CL1 share class, with the remainder in cash. When investors buy IBIT creation units, the fund’s authorized participants must deliver Bitcoin to match. That is real spot demand landing on exchanges through physical delivery. Nearly a billion dollars of weekly demand into a single fund forces marginal buying that has to clear at whatever price sellers demand.
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Contrast that with a quantitative easing analogy readers may reach for: the Federal Reserve creating reserves to buy Treasuries expands the monetary base. ETF inflows do neither. They redirect existing dollars into a specific asset. The price effect is real but bounded by the size of the flow.
Chart Levels That Matter Now
The one-month rebound restored ground that had been surrendered all year. Bitcoin is still down 10.02% year-to-date, and IBIT is down 10.03% year-to-date. The one-week picture has flattened: BTC is up just 0.26% over the past seven days, and IBIT is up 0.07%. The vertical part of the move is behind us. What is in front of the tape is a consolidation just under $79,000, with the recent low near $63,499 from August 2 serving as the base of the current leg.