August 2026 has set a bullish tone for crypto. In keeping with The Kobeissi Letter, traders at the moment are placing giant quantities of cash into each crypto and gold funds on the similar time.
Final week alone noticed crypto funds recording $3.2 billion in inflows, marking their largest weekly influx since October 2025.
August was bullish for crypto
On this inflow, BlackRock’s IBIT stole the highlight because it attracted $928 million after receiving one other $1.3 billion the week earlier than. In different phrases, IBIT alone introduced in additional than $2.2 billion over two weeks.
In addition to Bitcoin [BTC] ETFs, different altcoin ETFs, together with Ethereum [ETH], Solana [SOL], $XRP, Hyperliquid [HYPE], and Dogecoin [DOGE], all continued to keep up their influx streak.
In different phrases, the general crypto funds averaged $1.3 billion of inflows per week for 4 consecutive weeks, the strongest four-week tempo in about ten months. Nonetheless, there’s additionally an fascinating side connected to this, and that’s the shift from Bitcoin towards Ethereum and different main crypto belongings.
Is a shift imminent?
In keeping with AMBCrypto’s latest evaluation, the crypto demand has rotated moderately than reversed.
It’s because U.S. Bitcoin ETFs ended a nine-day influx streak with $202 million in outflows however nonetheless attracted $925 million for the week, whereas IBIT alone obtained $938 million. In the meantime, Ethereum ETFs noticed $824 million in weekly inflows and one other $102 million on twenty eighth August, extending their influx streak to 10 periods.
Solana and $XRP ETFs additionally attracted contemporary capital. This general ETF sentiment instructed that traders could also be shifting in direction of altcoins earlier than the September impact kicks in.
Remarking on the identical, Scott Melker, broadly often called “The Wolf of All Streets,” mentioned,
The bid rotated. It didn’t reverse.
Ultimate Abstract
- BlackRock’s IBIT took the highest spot because it attracted $928 million prior to now week.
- Nonetheless, there’s a shift showing the place traders are rotating their funds from Bitcoin to altcoins.
