Key facts
- An estimated $130 million was lost in a hack affecting Coldcard hardware wallets.
- Bitcoin ETFs have experienced a surge in inflows.
- The inflows suggest a potential shift of investor funds from cold storage to ETFs.
Following a significant hack that led to an estimated $130 million in losses for users of Coldcard hardware wallets, Bitcoin exchange-traded funds (ETFs) have witnessed a notable increase in inflows. This trend suggests a potential reallocation of investor capital, with some moving funds from self-custody solutions like hardware wallets to more managed investment vehicles. The surge in ETF inflows indicates continued institutional and retail interest in Bitcoin as an asset class, even amidst security concerns within the broader crypto ecosystem.