Bitcoin ETFs turn positive for 2026 with $2.4 billion weekly inflow, their largest since October

U.S. spot bitcoin ETFs took in more money last week than in any week since October 2025, enough to flip their 2026 net flows positive two months after they were nearly $6 billion in the red. Ether funds also reversed course, logging significant net inflows after a week of outflows.

Investors added $2.4 billion to the bitcoin products in the week ending Sept. 25, per The Block's analysis of SoSoValue data. The last week with greater inflows ended Oct. 10, 2025, when the funds took in $2.7 billion as bitcoin ran to a then-record price of $126,296.

Last week's inflows left bitcoin ETFs about $934.1 million in the green for the year, with their year-to-date flows turning positive on Tuesday. The funds were down about $5.8 billion on the year as recently as July 13, just over two months ago. 

Spot ether (ETH) ETFs drew $689.9 million over the same stretch, after losing about $140.0 million the week before, likewise  reversing the prior week's outflows.

Monday drove most of the week's inflows

The bitcoin funds had logged just $6.2 million in inflows the week before, on the back of a $433.0 million Friday. Last week, most of the money came in on day one, following Friday's strength. 

The 12 publicly-traded Bitcoin ETFs SoSoValue tracks drew $999.0 million on Monday, their largest daily inflow since Oct. 6, 2025, and the ninth-largest single day since the products launched in January 2024.

Daily inflows shrank continuously every session after that, however. The funds took in $714.7 million on Tuesday, $347.0 million on Wednesday, $190.6 million on Thursday and $134.5 million on Friday. Friday marked the funds' seventh straight day of inflows, a run worth $3.0 billion that started on Sept. 17.

BlackRock's IBIT, still the industry-leader in terms of assets under management (AUM), led the week with $1.2 billion in inflows, per the data. That was IBIT's second-largest weekly inflow since October 2025, behind the $1.3 billion it drew in the week ending Aug. 21.

Fidelity's FBTC, the runner-up in terms of AUM and volume market share, added $701.7 million, its largest weekly total since the week of Sept. 8, 2025. Ark and 21Shares' ARKB took in $294.7 million, nearly all of it on Monday.

Morgan Stanley's MSBT drew $203.3 million, its biggest week since it launched in April. The fund's previous weekly high was $71.1 million, set in mid-April.

Analysts point to Treasury buybacks

Cumulative net inflows since launch now stand at $57.6 billion, and net assets totaled $108.4 billion as of Friday.

Bloomberg ETF analyst Eric Balchunas noted the turnaround in a Wednesday post on X. He tied the "$4.6b tsunami of cash" to the Treasury Department's plan to increase buybacks of long-dated bonds.

Nate Geraci, president of NovaDius Wealth Management, wrote in a Saturday post that the funds have now taken in $5.3 billion since the Treasury first announced the buybacks. "Monday's $1bil inflow was 9th largest ever," Geraci said.

Trading volume came in at $15.0 billion for the week, down from $16.2 billion the week before, per The Block's data. 

Ether funds likewise rebound

Spot ether ETFs drew $270.0 million on Monday, their largest daily inflow since Oct. 7, 2025, matching the strong performance of the BTC funds. The 11 publicly-traded funds then added between $66.0 million and $162.3 million on each of the next four days.

BlackRock's ETHA led with $326.2 million for the week, followed by Fidelity's FETH at $174.0 million and Grayscale's Ethereum Mini Trust at $100.3 million. BlackRock's ETHB added $47.5 million, including $31.9 million on Friday.

Last week's total was the ether funds' largest since the week ending Aug. 28, when they drew $824.4 million. The products are now up about $1.6 billion for the year, with $17.8 billion in net assets and $13.9 billion in cumulative inflows since launch.

Ether ETF trading volume fell to $4.8 billion from $6.9 billion the week before, per The Block's data. 

Solana funds set a daily record

U.S. spot Solana (SOL) ETFs took in $86.7 million on Friday, their largest single day since the products launched in late October 2025, per SoSoValue data. Bitwise's BSOL accounted for $55.7 million of that sum.

The Solana funds drew $188.2 million for the week, second only to their $199.2 million launch week.

Their combined assets hit a record $1.5 billion on Friday, up from $1.2 billion a week earlier, per The Block's data. Bitwise's BSOL holds about 71% of that.

Spot XRP ETFs added $75.6 million for the week, per SoSoValue, and Grayscale's Zcash fund, ZCSH, briefly topped $1.0 billion in net assets on Thursday.