What happened: After a rough stretch of outflows, US spot Bitcoin ETFs surged last week, pulling in over $853 million. This rally, the strongest since mid-April, kicked off just days after a major security exploit drained millions from Coldcard self-custody wallets. While a weak jobs report later boosted Bitcoin prices, the majority of the ETF inflows occurred before that data was released.
Why it matters: The timing suggests a potential shift in investor sentiment: scared by the Coldcard hack, some holders may be abandoning self-custody in favor of the safety of institutional custodians. If Bitcoin ETFs continue to outpace Ethereum funds, it could signal a long-term trend of users moving away from DIY security toward the 'feature' of professional oversight.
