American spot exchange-traded funds for Bitcoin and Ethereum recorded record capital inflows over the past week, the most significant since October 2025. Between August 17 and 21, a total of $2.6 billion was attracted, signaling the return of institutional appetite for risk assets.
Record ETF Inflows: Numbers and Drivers
Bitcoin funds bore the brunt of the activity, attracting $1.92 billion over five trading sessions. Inflows were recorded every day, with the peak on August 20, when $606 million flowed into BTC ETFs in a single day—the highest figure since May. Trading volume also surged during this period: weekly turnover reached $22.15 billion, nearly three times the results of the previous period.
Ethereum funds showed equally impressive momentum, attracting $697.18 million and fully offsetting the $391.96 million outflow recorded a week earlier. The best day for ETH ETFs also fell on August 20, with inflows of $220.77 million. However, despite the positive trend, the total assets under management of Ethereum funds remain 53% below the record levels of August 2025.
Asset Value Grows Faster Than Inflows
It is important to understand: capital inflows are only part of the picture. During the reporting week, the value of assets in both ETF classes rose by approximately $23 billion, while investors contributed only $2.6 billion. This means the main driver of growth was the revaluation of the coins themselves, not new capital injections. Excluding inflows, the value of Bitcoin funds increased by 22.9%, and Ethereum funds by 29.2%. The lion's share of the rise occurred over three trading days from August 19 to 21.
At the time of analysis, Bitcoin was trading near $76,230, and Ethereum at $2,406.
Altcoin Funds: XRP, Solana, and New Leaders
Demand was not limited to the first and second cryptocurrencies. Altcoin funds also recorded net inflows for the week. The leader was the XRP ETF with $39.78 million and a record weekly trading volume of $271.74 million. In second place were Solana products, which attracted $28.34 million, extending a streak of positive weeks to eight consecutive.
Chainlink funds received $13.35 million, marking the second-best result since their launch in December 2025. Hyperliquid ETFs attracted $3.89 million, with their total asset value reaching a record $360.39 million. Closing out the list were Dogecoin products with a result of $654,416.
My take: The current dynamics confirm that institutional investors view the recent correction as an entry point, not a signal to exit. However, it is worth remembering: the growth in asset value is nine times greater than the volume of new inflows, indicating the market's high sensitivity to speculative momentum. In the short term, this creates risks of increased volatility, especially if the macroeconomic backdrop deteriorates.