Bitcoin (BTC)'s rise above $97,000 was supported by rising inflows into spot Bitcoin ETFs, and one analyst says demand might want to proceed for BTC to interrupt $100,000.
Key Takeaways:
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US spot Bitcoin ETFs recorded weekly net inflows of $1.8 billion, the strongest since early October 2025.
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Total spot ETF net assets remain 24% below their peak within the fourth quarter of 2025.
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Long-term supply-demand dynamics proceed to favor ETFs as institutional investor access is anticipated to extend in 2026.
Bitcoin ETFs are only a part of the image
US spot Bitcoin ETFs recorded $1.8 billion in net inflows this week, marking the most important weekly inflow for the reason that first week of October 2025. The move comes as BTC retests resistance near the $98,000 level, signaling renewed institutional interest.
Total Net Inflow of Bitcoin Spot ETFs. Source: SoSoValue
Despite the recovery, ETF positioning stays well below previous highs. The total net assets under management of all U.S. spot Bitcoin ETFs peaked at $164.5 billion within the fourth quarter of 2025, but currently stands at nearly $125 billion. This represents a decline of about 24%, highlighting that recent inflows have only partially offset previous outflows.
According to the Bitcoin macro intelligence newsletter “Ecoinometrics,” short bursts of ETF inflows have repeatedly led to transient price rises and subsequent fading of momentum.
“Bitcoin doesn't need a number of good days. It needs a number of good weeks,” the newsletter said, noting that cumulative ETF flows proceed to say no sharply. A handful of positive sessions are barely noticeable in comparison with longer selling periods. Until inflows accumulate over several weeks, rallies usually tend to stabilize the value than to restart a sustained uptrend.
Bitcoin and Ether ETF flow decline and recovery. Source: Econometrics/X
The imbalance between BTC supply and demand favors ETFs in the long run
From a structural perspective, demand for spot ETFs continues to exceed the availability of latest Bitcoin. According to Bitwise, US Bitcoin ETFs have purchased roughly 710,777 BTC since their launch in January 2024, while the network has only produced 363,047 BTC throughout the same period. The price of Bitcoin has since increased by around 94%, reflecting this imbalance.
Looking forward, the brand new supply is comparatively predictable, while demand could proceed to extend as institutional investors' access to Bitcoin expands. Notably, 2026 may very well be the yr when most institutional allocators proceed to broadly access crypto ETFs, as Bitwise has predicted.
“ETFs will buy greater than 100% of latest Bitcoin supply as institutional demand increases.”
In 2025, Bitwise predicts that Bitcoin inflows into publicly traded firms constructing BTC treasuries, sovereign wealth funds, ETFs and nation states could reach $300 billion in 2026.
The company highlighted that US spot Bitcoin ETFs attracted $36.2 billion in net inflows of their launch yr, reaching $125 billion in AUM far faster than SPDR Gold Shares did in its early growth phase.
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