Bitcoin’s (BTC) rally above $97,000 was supported by surging inflows to the spot Bitcoin ETFs, and one analyst says the demand should proceed for BTC to interrupt by means of the $100,000 barrier.
Key takeaways:
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US spot Bitcoin ETFs recorded $1.8 billion in weekly internet inflows, the strongest since early October 2025.
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Complete internet belongings below spot ETFs stay 24% beneath their This fall 2025 peak.
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Lengthy-term supply-demand dynamics proceed to favor ETFs, as institutional investor entry is anticipated to increase in 2026.
Bitcoin ETF are just one a part of the image
US spot Bitcoin ETFs logged $1.8 billion in internet inflows this week, marking the most important weekly consumption for the reason that first week of October 2025. The transfer comes as BTC once more assessments resistance close to the $98,000 degree, signaling renewed institutional curiosity.
Regardless of the rebound, ETF positioning stays properly beneath earlier highs. The full internet belongings below administration (AUM) throughout US spot Bitcoin ETFs peaked at $164.5 billion in This fall 2025 however at present stands close to $125 billion. This represents a drawdown of roughly 24%, underscoring that latest inflows have solely partially offset earlier outflows.
In response to the Bitcoin macro intelligence publication Ecoinometrics, quick bursts of ETF inflows have repeatedly led to temporary value bounces adopted by fading momentum.
“Bitcoin doesn’t want a couple of good days. It wants a couple of good weeks,” the publication stated, noting that cumulative ETF flows stay in a deep drawdown. A handful of constructive classes barely registers in opposition to extended durations of promoting. Till inflows cluster over a number of weeks, rallies usually tend to stabilize the value than restart a sturdy uptrend.
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BTC supply-demand imbalance favors ETFs within the long-run
From a structural standpoint, spot ETF demand continues to outpace new Bitcoin provide. In response to Bitwise, since US Bitcoin ETFs launched in January 2024, they’ve bought about 710,777 BTC, whereas the community has produced simply 363,047 BTC over the identical interval. Bitcoin’s value has risen about 94% since then, reflecting that imbalance.
Trying forward, new provide is comparatively predictable, whereas demand may increase additional as institutional investor entry to Bitcoin broadens. Notably, 2026 could possibly be the yr most institutional allocators proceed to broadly entry crypto ETFs, as Bitwise predicted,
“ETFs will buy greater than 100% of the brand new provide of Bitcoin as institutional demand accelerates.”
In 2025, Bitwise forecast that Bitcoin inflows into publicly listed firms constructing BTC treasuries, sovereign wealth funds, ETFs and nation-states may attain $300 billion in 2026.
The corporate highlighted that US spot Bitcoin ETFs attracted $36.2 billion in internet inflows of their inception yr, reaching $125 billion in AUM far sooner than SPDR Gold Shares did in its early progress section.
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