American spot exchange-traded funds for Bitcoin and Ethereum recorded the strongest weekly capital inflow since October 2025. Between August 17 and 21, a total of $2.6 billion was attracted, signaling the return of institutional risk appetite.
Bitcoin funds bore the brunt of it, raising $1.92 billion. Ethereum ETFs also showed impressive momentum, attracting $697.18 million and fully offsetting the outflow of $391.96 million recorded the previous week. This is an important marker: interest in the top-tier altcoin is recovering after a prolonged phase of uncertainty.
Record Days and Trend Reversal
August 20 was particularly telling, when the daily inflow into Bitcoin ETFs reached $606 million—the highest level since May. Notably, the funds operated in positive territory for all five trading days in a row, and trading volume surged to $22.15 billion for the week, nearly triple the figures of the previous seven-day period.
This momentum reversed the negative trend that had dominated since October 2025. The cumulative net inflow into Bitcoin funds, which peaked at $62.77 billion, then declined to $53.71 billion. However, the current week could mark the start of a new accumulation cycle. Ethereum funds, for their part, posted their best result since October: on August 20, they attracted $220.77 million in a single day.
Asset Growth Exceeded Inflow by 9 Times
It is important to understand: inflows alone do not explain the scale of what is happening. The total value of assets under management for both categories rose by approximately $23 billion, while investors injected only $2.6 billion. The rest is pure revaluation of the coins themselves. Excluding new contributions, the value of Bitcoin funds increased by 22.9%, and Ethereum funds by 29.2%. The main surge occurred over three trading days from August 19 to 21, when Bitcoin traded around $76,230 and Ethereum in the region of $2,406.
This indicates that the market is driven not only by new capital but also by the confidence of holders who refuse to lock in losses. Institutions, it seems, view current levels as an attractive entry point.
Altcoins Are Not Lagging Behind
Demand is also spreading to other digital assets. XRP led among altcoin funds with an inflow of $39.78 million and a record weekly trading volume of $271.74 million. In second place was Solana with $28.34 million: this is already the eighth consecutive week of positive momentum. Chainlink attracted $13.35 million, posting its second-best result since its launch in December 2025. Hyperliquid and Dogecoin also ended the week in positive territory, and the total value of HYPE fund assets reached an all-time high of $360.39 million.
My view: the current surge is not just a correction after sell-offs but a shift in sentiment among major players. The combination of record trading volumes and asset value growth outpacing inflows indicates that the market is pricing in future positive events. However, one should not forget about volatility: since the start of the year, Bitcoin ETFs are still down by $2.91 billion, and Ethereum funds by $177.93 million. The sustainability of this trend will become clear in the coming weeks.