Bitcoin fund inflows reach four-month high

Bitcoin exchange-traded funds (ETFs) registered the largest weekly inflows since April, attracting over $850 million. This came after a breach of the "Cold Card" wallets belonging to the Canadian company "Coin Gate," which resulted in the theft of approximately $130 million worth of cryptocurrency, fueling concerns about the security of digital assets. The breach led investors, including long-term Bitcoin holders, to shift toward ETFs that offer a safer exposure to the currency without the need for self-custody or personal insurance. Although the market remains within a narrow range between $60,000 and $67,000, this shift reflects a move of digital assets from self-storage to organized institutional systems managed by financial institutions under strict oversight, thereby boosting confidence and reducing risks.

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