Spot Bitcoin and Ethereum ETFs saw their strongest inflows in 10 months, with BTC gaining $2B and ETH gaining $700M following a US Treasury announcement.
Macro & Markets ·
Spot Bitcoin and Ethereum exchange-traded funds recorded their strongest inflows in ten months following a US Treasury announcement regarding expanded liquidity-support operations. Bitcoin ETFs accumulated nearly $2 billion in net inflows across five business days, while Ethereum ETFs attracted almost $700 million in the same period, marking the highest inflows since October 2025. The Treasury Department's decision to double the maximum size of buyback operations from $2 billion to at least $4 billion per transaction catalyzed a sharp acceleration in inflows midweek, with Bitcoin ETF net flows reaching $517 million on Wednesday and exceeding $606 million on Thursday.
The underlying assets experienced corresponding price movements. Bitcoin rose from below $65,000 to nearly $80,000 over the period, while Ethereum climbed from $1,900 to over $2,500. The cumulative Bitcoin ETF total reached $53.7 billion by August 21, up from $51.8 billion the prior week, and the Ethereum ETF total reached $12.15 billion from $11.45 billion. The inflows marked the strongest week since one ending October 10, when Bitcoin ETFs attracted $2.71 billion during market turbulence that saw over $19 billion in liquidations within 24 hours.
What remains unclear is the degree to which the Treasury announcement alone drove the inflow surge versus broader shifts in institutional allocation, and whether the momentum will sustain beyond the initial week of elevated activity.