U.S.-listed spot Bitcoin exchange-traded funds (ETFs) recorded net inflows for a seventh consecutive trading day. Weekly net inflows reached $2.39 billion (approximately ¥380 billion), marking the first time 2026 year-to-date cumulative flows have turned positive. However, daily inflow figures have contracted for three consecutive sessions, underscoring fading momentum during the current price consolidation phase.
According to data from SoSoValue, net inflows on September 24 totaled approximately $191 million (approximately ¥30 billion). After hitting this year’s high of $999 million (approximately ¥160 billion) on September 21, inflows on September 24 had fallen roughly 81% from the start of the week, as Bitcoin declined from levels above $87,000.
BlackRock’s iShares Bitcoin Trust (IBIT), the largest U.S. spot Bitcoin ETF by assets under management, accounted for approximately $163 million (approximately ¥26 billion) of September 24’s inflows. IBIT gathered approximately $1.35 billion (approximately ¥210 billion) over six trading days, representing nearly half of the total. On September 25, the fund posted another $134.47 million (approximately ¥21 billion) in net inflows, extending the streak to seven consecutive trading days. Cumulative net inflows now stand at $57.55 billion (approximately ¥9.1 trillion), with total net assets of $108.42 billion (approximately ¥17.1 trillion), equivalent to 6.43% of Bitcoin’s total market capitalization.
Year-to-Date Flows Turn Positive
According to data compiled by Farside Investors, total net inflows across all U.S. spot Bitcoin ETFs over the past week reached $2.39 billion. This magnitude was sufficient to push 2026 year-to-date cumulative flows from negative into positive territory.
Net inflows represent new subscriptions minus redemptions, providing a direct measure of fresh capital actually entering the products rather than gross trading volume. The shift to positive year-to-date territory means that since January 1, capital flowing into spot Bitcoin ETFs has exceeded outflows. This is a cumulative accounting milestone and does not guarantee future performance. If outflow weeks resume, the figure could flip back into negative territory.
The current inflow phase was preceded by a period in which Bitcoin and Ethereum ETFs lost $592 million (approximately ¥93 billion) amid regulatory uncertainty — illustrating how dramatically market sentiment has shifted in just a few weeks.
Is Institutional Demand Sustainable?
Taken together, the weekly and year-to-date figures show that institutional demand for Bitcoin exposure through the regulated ETF framework is increasing in measurable terms. The scale at which one week of net inflows reversed the annual cumulative figure suggests concentrated buying rather than a gradual trickle of capital.
Although inflows are tapering, the fact that institutional buying has not stalled even during the price correction is seen as a supportive factor for the market. The key focus going forward will be whether next week’s flow data shows sustained momentum or a stall. In derivatives markets, spot taker flow has turned positive, indicating that demand is returning through channels beyond ETFs as well.
That said, the year-to-date flip into positive territory merely reflects past accumulation. If the macro environment or regulatory developments deteriorate again, the risk of a reversal into outflows remains. The market will continue to assess the sustainability of ETF flows alongside Bitcoin’s price direction.