Bitcoin ETF attracts $3.8 billion, institutional demand returns

Bitcoin ETF recovers institutional demand after absorbing nearly US$3.8 billion in three weeks

In the past three weeks, Bitcoin exchange-traded funds (ETFs) have attracted a cumulative inflow of approximately US$3.8 billion. This was the best performance since the beginning of the year. Despite some redemption pressure, they attracted an additional $986.9 million in the past week alone. This recovery confirms the return of institutional demand, although current inflows have not yet fully offset all outflows recorded since January.

Summary of Core Points

• Bitcoin ETF attracted nearly $3.8 billion in funds in three weeks.
• BlackRock and Fidelity dominated the inflows recorded on Friday.
• Although the Bitcoin price fell below $80,000, the flow of funds remained positive.
• Funds are being refocused into Bitcoin, while the growth of Ethereum and XRP ETFs is slowing significantly.

Three-week inflows erase most of the outflow gap in 2026

In the week ended September 4, the Bitcoin ETF recorded inflows of US$986.9 million. The result was nearly 7% higher than the previous week's inflows. As a result, total inflows over the past three weeks were approximately US$3.8 billion. However, data shows that since the beginning of the year, there is still a net outflow of nearly US$1 billion in ETFs as a whole. According to SoValue, the current recovery has significantly narrowed this deficit, but has not completely eliminated it.

Key statistics reveal the importance of capital inflows:

• Inflows last week were US$986.9 million;
• Total inflows in the past three weeks have been close to US$3.8 billion;
• Net inflows since launch are approximately US$55.6 billion;
• The total net assets held by the fund are US$101.3 billion;
• The balance in 2026 remains negative at approximately US$1 billion.

Specifically, this series of consecutive gains raised approximately $1.92 billion in the first week, followed by an increase of nearly $924 million in the following week, and $986.9 million in the final week. This consistency distinguishes current trends from occasional one-day anomalies.

BlackRock accounted for two-thirds of Friday's inflows

On September 4, ETFs captured $174.6 million. Although the amount was well below the previous day's $730.8 million, it allowed the category to close higher for the second consecutive trading day. BlackRock's IBIT ETF received $117.4 million, accounting for nearly 67% of the day's total inflows. Fidelity's FBTC reported an inflow of $57.2 million. According to Farside Investors 'table, other funds recorded no net inflows or outflows during the period.

This dominance of BlackRock is also clearly visible in the cumulative data. Since its launch, total inflows to IBIT have exceeded US$64 billion. Fidelity followed closely, reaching nearly $10.3 billion. This concentration means that a significant portion of demand still relies on these two large funds. On Friday, IBIT and FBTC provided all positive flows in that category.

Bitcoin fell below US$80,000, but inflows increased against the trend

During Friday's trading session, Bitcoin fell from nearly $81,200 to less than $79,000, before recovering to about $79,700. Despite this, its weekly increase was still close to 2.6%. Even as prices fell, ETFs continued to attract capital. Such divergence may indicate that some investors are using price corrections to consolidate their exposure to positions. However, this does not guarantee an immediate rebound in prices.

This difference is reflected in the total valuation of assets held by ETFs. From Thursday to Friday, as $174.6 million was collected, the total asset valuation fell from $103.3 billion to $101.3 billion. The decline in bitcoin prices has caused asset valuations to fall faster than the increase in new capital. As a result, net flow measures share subscriptions and redemptions, while asset values are also affected by changes in Bitcoin prices. An increase in inflows does not immediately trigger a corresponding increase in the size of assets under management.

Withdrawal of funds from Ethereum and XRP ETFs

For Bitcoin ETFs, demand has consolidated, but for other cryptocurrency products, demand has basically slowed down. The Ethereum ETF recorded only $218.4 million in inflows this week, compared with $824.4 million the previous week, a drop of nearly 74%. Inflows to XRP ETFs fell nearly 83%, from $110.5 million to $19 million. Despite slowing growth, both categories have remained positive since January. Ethereum products have accumulated inflows of nearly US$863 million this year, while products dedicated to XRP have accounted for US$515 million.

Current trends signal a shift of capital to Bitcoin. To confirm the persistence of this trend, Bitcoin ETFs need to maintain positive inflows and erase the $1 billion net outflows accumulated since the beginning of the year.