{"id":54503,"date":"2026-08-28T17:06:02","date_gmt":"2026-08-28T22:06:02","guid":{"rendered":"https:\/\/bitcoinmagazine.com\/?p=54503"},"modified":"2026-08-28T17:06:18","modified_gmt":"2026-08-28T22:06:18","slug":"bitcoin-cools-following-etf-investment","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/news\/bitcoin-cools-following-etf-investment","title":{"rendered":"Bitcoin Cools Off After $3 Billion ETF-Driven Surge\u00a0"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\n<p class=\"wp-block-paragraph\">Bitcoin slid Friday afternoon, cooling down after a phenomenal run following huge investment from U.S. ETF buyers.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The leading cryptocurrency was <a href=\"https:\/\/bitcoinmagazine.com\/bitcoin-price\">trading<\/a> for $77,379 on Friday afternoon in New York after dropping more than 3% over a 24-hour period.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bitcoin hit a high this week of $81,281 but slowed down after Federal Reserve Chair Kevin Warsh <a href=\"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-shrugs-off-fed-chair-comments\">gave<\/a> his first major speech as head of the central bank \u2014 <a href=\"https:\/\/www.youtube.com\/watch?v=FJy0gvedUIA\" target=\"_blank\" rel=\"noopener\">saying<\/a> on Friday that he had &#8220;more work to do&#8221; to fight inflation.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Bitcoin price has in the past dropped when the Federal Reserve thinks inflation is too high because it means less chance of a rate cut; the leading cryptocurrency typically does better in a low-interest rate environment.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">JUST IN: \ud83c\uddfa\ud83c\uddf8 U.S. Bitcoin ETFs have brought in $1.14 billion in inflows this week. <br><br>Over $3 billion has been added in the past 9 days! \ud83d\ude80 <a href=\"https:\/\/t.co\/ri1jE7enTZ\">pic.twitter.com\/ri1jE7enTZ<\/a><\/p>&mdash; Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/x.com\/BitcoinMagazine\/status\/2093356080038338658?ref_src=twsrc%5Etfw\">August 28, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Bitcoin started surging last week after the U.S. Treasury would at least double the size of its liquidity-support buyback operations. The announcement last week hurt the dollar but non-yielding assets have benefited.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Exchange-traded funds, managed by the likes of BlackRock, Fidelity, and Grayscale have received net positive inflows for nine days in a row, according to Farside Investors data. Last week was their best week since October \u2014 when bitcoin hit a new all-time high \u2014 and that run has continued into this week.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since August 17, investors have thrown over $3 billion at the funds. BlackRock&#8217;s iShares Bitcoin Trust received the lion&#8217;s share of the investment, but Morgan Stanley&#8217;s new Bitcoin Trust \u2014 which debuted this year \u2014 also experienced significant inflows.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Analysts have said that the so-called debasement trade \u2014 when investors buy an asset as a way to hedge against a currency losing value \u2014 was leading investors to eye-up bitcoin again.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Investors taking part in the trade think that bitcoin, gold and other precious metals are a good way to protect themselves from excessive government spending.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Total U.S. debt <a href=\"https:\/\/www.reuters.com\/world\/us-debt-crosses-40-trillion-threshold-after-doubling-under-trump-biden-2026-08-19\/\" target=\"_blank\" rel=\"noopener\">crossed<\/a> $40 trillion for the first time this month.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin&#8217;s run slowed down Friday after the Federal Reserve chief said inflation was too hot. Its run was charged by speculators throwing billions at the popular investment vehicles. <\/p>\n","protected":false},"author":3860,"featured_media":54504,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4378],"tags":[76,6648,6725],"class_list":["post-54503","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","tag-bitcoin","tag-bitcoin-etfs","tag-debasement"],"author_data":{"id":3860,"name":"Mathew Di Salvo","nicename":"mathewdisalvo","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/07\/cropped-Mathew-Di-Salvo-scaled-1.jpeg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/08\/Pics-6.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/54503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3860"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=54503"}],"version-history":[{"count":1,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/54503\/revisions"}],"predecessor-version":[{"id":54505,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/54503\/revisions\/54505"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/54504"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=54503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=54503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=54503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}