The American crypto-ETF market is experiencing its most powerful surge in activity in the last ten months. During the trading week from August 17 to 21, the total inflow of funds into bitcoin and Ethereum funds reached $2.6 billion — the best figure since October 2025. This dynamic clearly indicates the return of institutional risk appetite after a prolonged cooling phase.
Bitcoin ETFs bore the brunt of the influx, attracting $1.92 billion. Notably, inflows were recorded all five trading days in a row, with the peak occurring on August 20, when $606 million flowed into the funds in a single day. This is the best result since May of this year. Trading volumes also soared: over the week, the total trading volume in BTC funds reached $22.15 billion — nearly three times more than the week before.
Ethereum ETFs are not lagging behind, albeit on a smaller scale. Funds based on the second-largest cryptocurrency by market capitalization received $697.18 million, fully covering the outflow of $391.96 million recorded earlier. The best day was also August 20, when the inflow amounted to $220.77 million. This is the strongest result for ether funds since October.
Growth in asset value exceeded fund inflows by 9 times
However, inflows alone do not explain the full picture. The total value of assets under management for both categories of funds grew by approximately $23 billion, while investors invested only $2.6 billion. This means that the remaining $20+ billion is pure revaluation of the coins themselves. Excluding new inflows, the value of bitcoin funds rose by 22.9%, and Ethereum funds by 29.2%. The lion's share of this growth occurred during the three trading sessions from August 19 to 21.
At the time of analysis, BTC is trading around $76,230, and ETH is at the level of $2,406. This dynamic confirms: the market is moving not so much due to new money, but rather due to changes in the valuation of existing positions.
Altcoin funds: XRP and Solana set the pace
The growth was not limited to the "majors." Altcoin funds also showed solid inflows. The leader was the XRP ETF with $39.78 million and a record weekly trading volume of $271.74 million. Solana funds secured second place with $28.34 million — this is already the eighth consecutive week of positive dynamics. Chainlink ETFs attracted $13.35 million, which was the second-best result since their launch in December 2025.
Hyperliquid funds received $3.89 million, and their total assets reached a record $360.39 million. Dogecoin ETFs closed out the list with a symbolic inflow of $654,416.
My take: This current week is not just a surge, but a potential turning point. The combination of record inflows and outpacing growth in asset value suggests that institutional players are not only returning but also revising their long-term valuations. However, it should not be forgotten: since the start of the year, bitcoin ETFs are still down by $2.91 billion, and Ethereum funds by $177.93 million. For a sustainable bullish trend, consolidation above current levels is necessary; otherwise, we risk seeing another wave of profit-taking.