American spot exchange-traded funds for Bitcoin and Ethereum recorded a record weekly capital inflow since October 2025. Over five trading sessions, from August 17 to 21, $2.6 billion flowed into these instruments, dramatically shifting market sentiment and prompting a reassessment of short-term forecasts.
The lion's share of funds—$1.92 billion—went to Bitcoin ETFs. Meanwhile, Ethereum funds did not lag behind, attracting $697.18 million and more than offsetting the $391.96 million outflow recorded the previous week. This is a vivid demonstration of institutional investors regaining their appetite for risk after a prolonged correction.
Record surge: numbers and dynamics
Bitcoin funds showed positive momentum for five consecutive days. The peak came on August 20, when $606 million was poured into BTC ETFs in a single day—the best result since May. Trading activity also surged sharply: weekly turnover for these instruments reached $22.15 billion, nearly triple the figures from the previous week.
It is important to note that this surge broke a prolonged downtrend. The cumulative net inflow into Bitcoin funds, having peaked at $62.77 billion in October 2025, has now declined to $53.71 billion. The current week could serve as a starting point for recovering this metric.
Ethereum ETFs also posted their best result since October: on August 20, they attracted $220.77 million in a single day. Nevertheless, the total assets under management for these funds remain 53% below the historical high of August 2025, indicating significant potential for further growth.
Asset growth vs. capital inflow: an important nuance
Inflows alone are not enough for a complete picture. The value of assets in both categories rose by approximately $23 billion over the week, while investors injected only $2.6 billion. This means the primary driver of growth was the appreciation of the coins themselves, not new injections. Excluding inflows, the value of Bitcoin funds rose by 22.9%, and Ethereum funds by 29.2%. Most of this 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. This price dynamic, combined with capital inflows, forms a classic bullish pattern.
Altcoin ETFs: a new wave of interest
Positive momentum was not limited to leading cryptocurrencies. Altcoin funds also showed a net inflow 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 with $28.34 million, which have now recorded inflows for eight consecutive weeks. Chainlink funds attracted $13.35 million—the second-best result since their launch in December 2025.
Hyperliquid (HYPE) ETFs received $3.89 million, and their total asset value reached a record $360.39 million. Dogecoin funds round out the list with a result of $654,416.
My analysis: The current surge is not merely a correction but a signal of returning institutional optimism. However, it is worth remembering that a significant portion of asset growth is driven by price revaluation rather than new capital. This means the sustainability of the trend will directly depend on Bitcoin's ability to hold above key levels. If inflows persist this week, we could see the start of a full-fledged bullish cycle, but it is too early to talk about a long-term reversal.