Spot Bitcoin ETFs draw $381M inflows after Coldcard hack

Spot Bitcoin exchange-traded funds in the United States saw a significant resurgence in investor capital this week, drawing hundreds of millions in net inflows as a major security incident involving Coldcard hardware wallets refocused attention on the risks of digital asset self-custody. According to data from SoSoValue, spot Bitcoin ETFs recorded $211.5 million in net inflows on Tuesday, August 4, adding to $170 million from the prior day, Monday, August 3.

The renewed demand coincides with ongoing analysis of the Coldcard hack. Galaxy Research, the research arm of Galaxy Digital, has estimated the incident may have affected as many as 7,300 addresses and resulted in roughly $130 million in suspected Bitcoin losses. The firm's head of firmwide research, Alex Thorn, and his team have been prominent in tracking and publishing estimates on the attack's scope. This development has reignited a long-running debate within cryptocurrency circles over whether the institutional custody solutions underpinning regulated ETFs offer a safer alternative for investors.

Leading the ETF recovery was BlackRock's iShares Bitcoin Trust (IBIT), which attracted $111 million on Monday and $170 million...