đ ETF turned positive for the full year. Finally reaching beyond $900 million
Last week, U.S. spot Bitcoin ETFs saw net inflows of $2.4 billionâ the largest single week since last Octoberâbringing the 2026 full-year fund flows back into positive territory. The figures come from SoSoValue, with The Block reporting using the same methodology; Farsideâs independently calculated full-year numbers are slightly lower.
The turning point was September 22. Since May 26 this year, the first time this yearâs net inflows flipped to positive. On July 13, on that same day, these dozen-plus funds were still collectively net outflows of $5.69 billion for the year.
How much is it positive now? By the Farside measure, $887 million; by SoSoValueâs measure, $934 million. Out of $108.4 billion in net assets, the money net added this year is less than one percent.
Total for 2025 was $21.35 billion. To match that in the remaining 14 weeks, youâd need to bring in another $20 billion or more.
The money was earned in seven days. From September 17 to 25, there were seven consecutive trading days of net inflows, totaling about $3.0 billion. On September 21 alone, $999 millionâ the largest single day in 2026.
In the same stretch, the following days drop day by day. Monday: $999 million; Tuesday: $715 million; Wednesday: $347 million; Thursday: $191 million; Friday: $135 million. The first day alone consumed nearly a third of the entire period.
Whoâs lifting. Last week, IBIT added $1.2 billion, FBTC $702 million, and Morgan Stanleyâs MSBT $203 millionâits biggest weekly inflow since it launched in April. In Farside data, IBIT was net positive year-to-date by $3.09 billion, while GBTC was net outflow of $2.59 billion. If you set IBIT aside, the remaining dozen-odd funds still, in total, were net outflows of around $2.2 billion.
One sentence. This âturning positiveâ was propped up by one fund plus a single week.
Why this particular week. On September 23, Nate Geraci wrote on X that since the Treasury said it would increase long-dated bond repurchases, ETFs received $4.6 billion. Bloombergâs Eric Balchunas disagreed with this attribution; he believes it reflects real retail buying, with little contribution from basis-trading by hedge funds. Both are direct quotes, and I stand with the latter. Basis trading looks at the price spread, so it wouldnât âclusterâ into entries all at once in just this week.
Quick look at something else. ETH ETFs saw net inflows of $690 million last week; the week before that was net outflows of $140 million; year-to-date thatâs roughly net positive by about $1.6 billion. SOL ETFs had $86.70 million net inflow on Fridayâ the largest day since launch.
In this writing, the four BTC quote sources land at 84,385 to 84,407; BTC is up about 0.5% over 24 hours. ETH: 2,696.
The first two days next week are critical. This curve is trending downward within this week. Either it re-tilts upward, or those $3.0 billion are just a one-time position reset. After the two words âturned positive,â thereâs only a $999 million Monday left.
$BTC $ETH
#äžæŹèȘćœé 瀟ćșBaoluoćžćè”æŹ #æŻçčćžETF #è”éæ”
Last week, U.S. spot Bitcoin ETFs saw net inflows of $2.4 billionâ the largest single week since last Octoberâbringing the 2026 full-year fund flows back into positive territory. The figures come from SoSoValue, with The Block reporting using the same methodology; Farsideâs independently calculated full-year numbers are slightly lower.
The turning point was September 22. Since May 26 this year, the first time this yearâs net inflows flipped to positive. On July 13, on that same day, these dozen-plus funds were still collectively net outflows of $5.69 billion for the year.
How much is it positive now? By the Farside measure, $887 million; by SoSoValueâs measure, $934 million. Out of $108.4 billion in net assets, the money net added this year is less than one percent.
Total for 2025 was $21.35 billion. To match that in the remaining 14 weeks, youâd need to bring in another $20 billion or more.
The money was earned in seven days. From September 17 to 25, there were seven consecutive trading days of net inflows, totaling about $3.0 billion. On September 21 alone, $999 millionâ the largest single day in 2026.
In the same stretch, the following days drop day by day. Monday: $999 million; Tuesday: $715 million; Wednesday: $347 million; Thursday: $191 million; Friday: $135 million. The first day alone consumed nearly a third of the entire period.
Whoâs lifting. Last week, IBIT added $1.2 billion, FBTC $702 million, and Morgan Stanleyâs MSBT $203 millionâits biggest weekly inflow since it launched in April. In Farside data, IBIT was net positive year-to-date by $3.09 billion, while GBTC was net outflow of $2.59 billion. If you set IBIT aside, the remaining dozen-odd funds still, in total, were net outflows of around $2.2 billion.
One sentence. This âturning positiveâ was propped up by one fund plus a single week.
Why this particular week. On September 23, Nate Geraci wrote on X that since the Treasury said it would increase long-dated bond repurchases, ETFs received $4.6 billion. Bloombergâs Eric Balchunas disagreed with this attribution; he believes it reflects real retail buying, with little contribution from basis-trading by hedge funds. Both are direct quotes, and I stand with the latter. Basis trading looks at the price spread, so it wouldnât âclusterâ into entries all at once in just this week.
Quick look at something else. ETH ETFs saw net inflows of $690 million last week; the week before that was net outflows of $140 million; year-to-date thatâs roughly net positive by about $1.6 billion. SOL ETFs had $86.70 million net inflow on Fridayâ the largest day since launch.
In this writing, the four BTC quote sources land at 84,385 to 84,407; BTC is up about 0.5% over 24 hours. ETH: 2,696.
The first two days next week are critical. This curve is trending downward within this week. Either it re-tilts upward, or those $3.0 billion are just a one-time position reset. After the two words âturned positive,â thereâs only a $999 million Monday left.
$BTC $ETH
#äžæŹèȘćœé 瀟ćșBaoluoćžćè”æŹ #æŻçčćžETF #è”éæ”
