US spot Bitcoin ETFs recorded $382 million in net inflows over two days, with Galaxy's Bitcoin ETF returning to gains during that period. The inflows come as the Coldcard incident renewed concerns about cryptocurrency custody security.
Two-day inflow streak
The $382 million figure marks a notable rebound for the sector. Galaxy's Bitcoin ETF, which had seen outflows earlier, returned to positive territory during this window. The inflows suggest continued appetite for regulated Bitcoin exposure despite broader market uncertainty.
Coldcard custody concerns
The Coldcard incident has reignited debate around cryptocurrency custody. Coldcard, a popular hardware wallet, was involved in an event that raised questions about the security of self-custody solutions. The timing isn't great for a sector already sensitive to security breaches.
It's unclear whether the ETF inflows are directly related to the Coldcard news, but the juxtaposition highlights a tension: investors are pouring money into custodial ETF products while a hardware wallet incident reminds them of the risks of holding assets themselves.
No further details on the Coldcard incident have been released. The market will be watching for any regulatory response or updates from Coldcard's team.
