{"id":31412,"date":"2026-08-10T21:26:11","date_gmt":"2026-08-10T20:26:11","guid":{"rendered":"https:\/\/investx.fr\/en\/2026\/08\/10\/coldcard-hack-bitcoin-etf-record-inflows\/"},"modified":"2026-08-10T21:26:17","modified_gmt":"2026-08-10T20:26:17","slug":"coldcard-hack-bitcoin-etf-record-inflows","status":"publish","type":"post","link":"https:\/\/investx.fr\/en\/crypto-news\/coldcard-hack-bitcoin-etf-record-inflows\/","title":{"rendered":"Coldcard Hack: Bitcoin ETFs Record Their Biggest Weekly Inflows Since April"},"content":{"rendered":"\n

A devastating hack targeting Coldcard wallets<\/strong>. Hundreds of millions of dollars in Bitcoin<\/strong> wiped out. And, paradoxically, a massive surge into Bitcoin ETFs<\/strong>.<\/p>\n\n\n\n

Last week, US Bitcoin index funds<\/strong> posted their strongest weekly inflows since April \u2014 as if the catastrophe had, in the end, served as an unintentional advertisement for institutional products.<\/p>\n\n\n\n

Behind this remarkable reversal lies a fundamental question: does self-custody<\/strong> still hold up as an argument against ETFs managed by BlackRock or Fidelity<\/strong>?<\/p>\n\n\n\n

$850 Million in One Week: Bitcoin ETFs Capitalize on the Coldcard Chaos<\/h2>\n\n\n\n

According to Bloomberg<\/strong> data, US Bitcoin ETFs<\/strong> pulled in $850 million<\/strong> in the week following the Coldcard hack disclosure \u2014 their strongest weekly inflow since April 2026. BlackRock<\/strong>, Fidelity<\/strong>, Grayscale<\/strong>, and Morgan Stanley<\/strong> were among the primary beneficiaries of this surge, with total assets under management across US funds now approaching $80 billion<\/strong>, according to CoinGlass<\/strong> data.<\/p>\n\n\n\n

The timing is striking. Hackers exploited a software vulnerability in the firmware of the Coldcard<\/strong>, the flagship hardware wallet<\/strong> from Coinkite<\/strong>, to siphon funds directly from users’ wallets. Some estimates put the total at more than $130 million in Bitcoin<\/a> stolen<\/strong>. The incident deeply shook the Bitcoin community, which has traditionally regarded cold storage<\/strong> as the ultimate security standard.<\/p>\n\n\n\n

It remains difficult to determine whether investors directly shifted from self-custody<\/strong> to ETFs<\/strong> in the wake of the hack. But the temporal correlation is hard to ignore, and trading volumes on these products climbed noticeably in the aftermath of the incident.<\/p>\n\n\n\n

BlackRock Makes Its Case: ETFs Offer Security Without the Complexity<\/h2>\n\n\n\n
\"Bitcoin<\/figure>\n\n\n\n

Robert Mitchnick<\/strong>, Global Head of Digital Assets at BlackRock<\/strong>, used an appearance on Bloomberg’s<\/strong> ETF IQ<\/em> to clearly articulate the value proposition of ETFs<\/strong> in light of this episode. Since the funds received SEC approval in January 2024<\/strong>, investors have been seeking, in his words, “a simple, turnkey, and trusted vehicle”<\/strong> \u2014 one that requires no mastery of crypto security mechanics such as private keys<\/strong>, seed phrases<\/strong>, or firmware updates.<\/p>\n\n\n\n

On the Coldcard<\/strong> hack itself, Mitchnick was careful to reframe the debate: “This is not a flaw in the Bitcoin protocol or any other crypto protocol \u2014 these are poor individual security management issues that occur with various individuals or service providers.”<\/em> A reassuring message for ETF<\/strong> holders, but one that also highlights the structural limitations of self-custody<\/strong> for non-technical users.<\/p>\n\n\n\n

BlackRock<\/strong> also noted that it consistently observes its Bitcoin ETF<\/strong> investors buying and holding their positions over the long term<\/strong>, including during market downturns. An institutionalized HODL<\/strong> mentality \u2014 one that stands in sharp contrast to the behavioral volatility often associated with direct BTC holders.<\/p>\n\n\n\n

Bitcoin Price Stays Flat Despite Record Inflows: Warning Signal or Healthy Consolidation?<\/h2>\n\n\n\n
\"Bitcoin<\/figure>\n\n\n\n

Despite this record inflow, Bitcoin<\/a><\/strong> has posted near-zero performance over the past seven days, trading around $63,861<\/strong> at the time of publication. Historically, weeks of strong ETF<\/strong> inflows have coincided with significant price gains \u2014 making this decoupling worth paying close attention to. It could point to offsetting selling pressure, potentially linked to Coldcard hack victims liquidating their remaining positions.<\/p>\n\n\n\n

The market finds itself in an indecisive price action<\/strong> zone: no bullish breakout, no clear capitulation. Institutional buyers are absorbing the pressure, but overall sentiment remains cautious. Short-term resistance sits around $65,000\u2013$66,000<\/strong>, a level BTC has failed to reclaim for several weeks.<\/p>\n\n\n\n

This context is a reminder that ETFs<\/strong>, while they channel fresh capital into the market, are not automatic price catalysts. Institutional demand creates a floor<\/a>, but bullish momentum requires additional triggers \u2014 macro, on-chain, or regulatory \u2014 to fully materialize.<\/p>\n\n\n\n

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