American spot exchange-traded funds (ETFs) for Bitcoin (BTC) and Ethereum (ETH) demonstrated the strongest weekly capital inflow since October 2025. During the period from August 17 to 21, investors poured $2.6 billion into these instruments, signaling a significant recovery in risk appetite after a prolonged correction.
Bitcoin ETFs became the absolute leader, attracting $1.92 billion. Notably, inflows were observed all five trading days in a row, with the peak occurring on August 20, when funds recorded $606 million in a single day—the highest figure since May. Ethereum products also showed impressive momentum: $697.18 million in net inflows, more than offsetting the $391.96 million outflow recorded the previous week.
Trend Reversal and Asset Accumulation
This week marked a turnaround after a prolonged period of weakness. Total net inflows into Bitcoin funds peaked in October 2025 at $62.77 billion, but have since declined to $53.71 billion. Nevertheless, the current surge in activity indicates that institutional players are once again viewing cryptocurrencies as an attractive asset class.
Significantly, the growth in assets under management (AUM) far outpaces the volume of new inflows. Over the week, assets in both categories appreciated by approximately $23 billion, while investors contributed only $2.6 billion. Excluding capital inflows, the value of Bitcoin funds rose by 22.9%, and Ethereum funds by 29.2%. This suggests that the main contribution to growth came from the revaluation of the coins themselves: Bitcoin traded around $76,230, and Ethereum at $2,406.
Altcoins: A New Wave of Interest
The positive momentum was not limited to the leading cryptocurrencies. Altcoin funds also recorded steady inflows. The leader was the XRP ETF with $39.78 million and a record weekly trading volume of $271.74 million. Solana (SOL) products secured second place with $28.34 million, marking the eighth consecutive week of positive balance. Chainlink (LINK) funds attracted $13.35 million—the second-best result since their launch in December 2025.
Hyperliquid (HYPE) ETFs added $3.89 million, with their total assets under management reaching a record $360.39 million. Closing the list are Dogecoin (DOGE) funds with a result of $654,416. This diversification of interest confirms that the market is gradually emerging from a phase of caution, and investors are ready to consider a broader range of digital assets.
My view: The current inflow is not just a short-term spike, but a signal of the return of institutional demand. However, it is important to understand that a significant portion of AUM growth is driven by market revaluation rather than new money. This means the sustainability of the trend will depend on Bitcoin's and Ethereum's ability to hold current price levels. If bullish sentiment persists, we may see a new round of capital consolidation in crypto ETFs, but in the event of a market correction, inflows could quickly turn into outflows.