Crypto Funds: $3.2 Billion in One Week, Bank of America Hasn't Seen This Since October 2025

Three billion in seven days. Crypto funds recorded net inflows of $3.2 billion last week, their largest weekly collection since October 2025, according to Bank of America. Just a few days earlier, U.S. Bitcoin and Ethereum ETFs had already gathered $2.6 billion over five sessions. Buyers have indeed returned, and not quietly. However, this resurgence comes at a time when the Federal Reserve is once again discussing interest rate hikes.

Key points from this article:

• Crypto funds saw a massive inflow of $3.2 billion in one week, an unprecedented performance since October 2025.
• Despite the enthusiasm for cryptocurrencies, gold attracted even more investments, underscoring its dominant position as a safe haven.

The figure comes from Bank of America's weekly note, the famous "Flow Show" led by strategist Michael Hartnett. It compiles data from EPFR on capital flows around the world. Reported by numerous media outlets including CryptoBriefing on August 30, this note records $3.2 billion in net inflows into crypto funds for the week ending August 26. A peak not seen on the bank's chart since last fall when Bitcoin flirted with $126,000.

The details are worth noting. In the same week, the same note counts $7.3 billion flowing into gold-backed funds. The gold segment remains significantly larger. This is not surprising, given that the yellow metal spent August breaking records, surpassing $4,700 an ounce on August 26, and that its funds had already absorbed $6.3 billion in one week by mid-August, their best collection since January. In other words, investors are not choosing between the two supposed safe havens. They are taking both, with a clear preference for the older one.

On the American side, Farside's data tells the same story with a bit more detail. Spot Bitcoin ETFs recorded nine consecutive sessions of net inflows between August 17 and 27, totaling approximately $3.04 billion. BlackRock alone took more than half of that. Then, on Friday, August 28, the streak came to a sudden halt, with $201.9 million in outflows.

For the entire week, the balance remains largely positive, at $924.5 million. And August marks the best month of 2026 for Bitcoin ETFs, with over $3 billion in inflows, far ahead of the $2 billion in April. Ether ETFs, on the other hand, managed ten consecutive sessions in the green and exceeded $1 billion during the period. All of this was enough to push Bitcoin above $80,000 on August 27, before retreating to $78,000 the next day. This price still remains 37% below its October record. And the 2026 performance of Bitcoin ETFs remains negative, around $2.5 billion, despite this stellar August. Appetite is returning, but the winter bill has not yet been settled.

The timing has a certain sense of irony. On the very day that Bitcoin ETFs experienced their first outflow after nine sessions of buying, Federal Reserve Chairman Kevin Warsh spoke at Jackson Hole. His message could be summed up in one sentence, or almost. The 2% inflation target is a "firm, fixed" goal, and if core inflation does not approach it "clearly and at a sufficient pace," the central bank will have "work to do." With a PCE index at 3.7% year-on-year (and 4.1% annualized over six months), we can guess what work he is referring to.

The markets reacted immediately. Futures contracts now give nearly a 60% probability of a rate hike at the meeting on September 15 and 16, compared to 35% before the speech. An increase, not a decrease. For risk assets like cryptocurrencies, this is not exactly good news. Hartnett himself has been emphasizing since mid-August that "the trade is to be long on gold" and that investor positioning is "excessively bullish," with his bank's Bull & Bear indicator at 9.7 out of 10. In the mouth of a strategist who has seen a few bubbles deflate, this means that the crowd is right until the day it is wrong.

One last tasty detail. The bank counting the billions is also the one sending them out. Since January 5, Bank of America has allowed its 15,000 wealth management advisors to recommend a crypto allocation of up to 4% of portfolios via spot Bitcoin ETFs. When Wall Street opens the tap and holds the counter at the same time, weekly records tend to multiply. The next Flow Show is set for Friday, September 4, twelve days before the Fed makes its decision.

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