💸 Bitcoin ETFs just had their best week since April — with an unlikely tailwind

Spot Bitcoin ETFs hold actual BTC and trade like stocks — crypto without the custody headaches. Inflows had been choppy for months, then this week they snapped back: $1 billion net, the strongest showing since April, per Bloomberg's Eric Balchunas.

The timing is hard to ignore. A firmware flaw in popular hardware wallet Coldcard let attackers compromise keys at the source — ~$116M in BTC gone. Balchunas stopped short of claiming causation, but noted it's hard to imagine no one migrated from cold storage to ETFs as a result.

The best advertisement for institutional custody is sometimes someone else's bad day.

Cointelegraph