U.S.-listed exchange-traded funds tied to bitcoin and ether attracted billions of dollars in inflows last week, marking their strongest performance in roughly three months.
The 11 spot bitcoin ETFs recorded net inflows of $1.42 billion, the largest weekly total since the second week of October, according to TradingView data. BlackRock’s iShares Bitcoin Trust (IBIT) accounted for the bulk of the demand, pulling in $1.03 billion on its own.
Strength extended beyond bitcoin. Spot ether ETFs drew $479 million in inflows, their highest weekly tally since early October. BlackRock’s ether fund, ETHA, led the group with $219 million in new capital.
So far this year, bitcoin and ether ETFs have accumulated $1.21 billion and $584.9 million in net inflows, respectively.
Market participants say the bulk of the recent inflows reflect outright bullish exposure rather than arbitrage-driven activity, signaling the return of more “sticky” institutional capital. That marks a shift away from the cash-and-carry strategy—long ETF positions hedged with short CME futures—which has reportedly become less attractive as yields have compressed.
Prices have responded accordingly. Bitcoin is up about 6% this month to roughly $92,600, while ether has gained nearly 8% to around $3,200, according to CoinDesk data.
“The alignment between ETF inflows and price action suggests institutional capital is actively shaping market structure rather than passively following retail sentiment,” CoinDesk’s market insights model said. “This contrasts sharply with late 2025, when bitcoin struggled to rally despite moderate ETF demand.”
The model added that the current dynamic points to institutions positioning ahead of potential regulatory clarity and macroeconomic developments expected in the first quarter of 2026.
Still, analysts caution that sustained inflows will be critical if bitcoin and ether are to post more meaningful gains in the months ahead, after ETFs shed billions of dollars during the selloff in late 2025.
