The month in one line

Bitcoin went from the low $63,000s to a close near $78,500, its strongest August since 2017. The engine was a record short squeeze, Treasury long-end intervention, more than $3.3 billion of spot ETF inflows and the first week since October 2025 where all four major spot ETF categories (BTC, ETH, SOL, XRP) took money at once.

Flows by asset

Ether funds had their best week since October 2025 with roughly $824 million across 24–28 August. Solana ETFs set a 2026 weekly record near $154 million; XRP ETFs set one near $110 million. Bitcoin funds still netted about $925 million for the week despite Friday's outflow.

BlackRock's ETH reverse split

BlackRock announced a 1-for-3 reverse share split for its iShares Ethereum Trust (ETHA), effective 6 October. It raises the per-share price without changing the fund's value, and it arrives with the ETF down roughly 40% year to date, a reflection of Ethereum's underperformance against Bitcoin in 2026.

The weekend's ugly story

A Trump-linked token called GOLD collapsed 99% on 29 August in what was described as a rug pull. It was not the official TRUMP token, but it dragged scrutiny onto the whole family of political meme coins. A California bill targeting officials' tokens advanced, and Senators Warren and Blumenthal urged the SEC to investigate.

Saylor signals a return

Michael Saylor hinted that Strategy may resume Bitcoin purchases after a two-month pause, which traders read as a potential floor in the high $70,000s.

What to watch

The fear-and-greed index dropped from 73 to 62 into Monday. The question for September's first week: do ETF creations resume while price holds $78,000? If yes, Friday was digestion. If outflows continue with oil elevated, the August bid was more event-driven than structural.