Crypto funds recorded net inflows of 3.2 billion USD in the week ending 26 August, their largest weekly inflow since October 2025, according to Bank of America data. The surge came as bitcoin climbed to $80,000 on 27 August before retreating to 78,000 USD the following day, and as US spot Bitcoin and Ethereum ETFs attracted 2.6 billion USD in the five trading sessions prior to that week.
Bitcoin ETF strength in August
Spot Bitcoin ETFs saw net inflows of 3.04 billion USD between 17 and 27 August, with BlackRock accounting for more than half of that total. The week proved volatile: Bitcoin ETF outflows reached 201.9 million USD on 28 August, yet the complete week delivered net inflows of 924.5 million USD to Bitcoin ETFs. August marked the best month for Bitcoin ETFs in 2026, though the year-to-date balance remains negative at 2.5 billion USD in net outflows.
Ethereum ETFs drew 1 billion USD over the period. Bitcoin still trades 37 percent below its October 2025 record of $126,000.
Gold leads asset inflows
Gold-backed funds drew 7.3 billion USD in the same week, significantly outpacing crypto. Gold prices reached $4,700 per ounce on 26 August. Michael Hartnett, Bank of America strategist, said the trade is to be long on gold and investor positioning is excessively bullish.
Federal Reserve Chair Kevin Warsh spoke at Jackson Hole on 28 August, stating that the 2 percent inflation target is a firm, fixed target, and if underlying inflation does not approach it clearly and at a sufficient pace, the central bank will have work to do. The PCE index stood at 3.7 percent year-over-year and 4.1 percent annualized over six months. Market pricing shifted after his remarks to assign 60 percent probability to a rate increase at the 15–16 September Fed meeting, up from 35 percent before the speech.
Source: Bank of America
