Bitcoin ETF Inflows Reach $626 Million After Coldcard Hack
By: rootdata|2026/08/06 15:44:39
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Prefer us on GoogleInvestors have poured $626 million into spot Bitcoin exchange-traded funds (ETFs) following the Coldcard hack, which resulted in over $130 million in Bitcoin theft. Major U.S. funds managed by BlackRock, Fidelity, Grayscale, and Morgan Stanley have seen significant inflows since the hack was reported. Hackers exploited a vulnerability in Coldcard wallets, draining millions in Bitcoin daily. Bloomberg Intelligence's senior ETF analyst Eric Balchunas noted that while the inflows may not be directly related to the hack, investors are making a prudent choice by allowing fund managers to manage their Bitcoin. BlackRock's iShares Bitcoin Trust (IBIT) attracted the majority of new investments. The ETF, approved by the U.S. Securities and Exchange Commission in 2024, had the most successful launch in ETF history. Investors previously hesitant to buy Bitcoin due to cold storage complexities can now purchase shares that track Bitcoin's price on stock exchanges. Other top Wall Street fund managers currently oversee a total of $77.8 billion in assets across these ETFs. The Coldcard hack stemmed from a firmware flaw linked to a 2021 build issue, allowing attackers to guess weak private keys.
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