Bitcoin climbed above $97,000 this week as strong inflows into US spot Bitcoin ETFs supported price tests near $98,000, driven by renewed institutional interest. The move came amid the largest weekly ETF intake since early October 2025 and growing talk that sustained demand is required to push past $100,000.
US spot Bitcoin ETFs logged approximately $1.8 billion in weekly net inflows, the biggest weekly total since early October 2025, according to data shows. ETF positioning, however, remains well below prior highs.
Total assets under management across these ETFs peaked at about $164.5 billion in Q4 2025 and sit near $125 billion today, a roughly 24% drawdown. Recent inflows have only partly reversed the earlier outflows.
The macro newsletter Ecoinometrics noted that brief ETF inflows often spark short-lived price bounces and fading momentum (Ed. note: sustained weekly inflows are emphasized as crucial). The report added that “Bitcoin doesn’t need a few good days. It needs a few good weeks.”
From a supply-demand view, ETFs have bought far more BTC than the network issued since their 2024 launch. According to Bitwise, ETFs acquired about 710,777 BTC while the network produced roughly 363,047 BTC since January 2024, a period in which Bitcoin’s price rose about 94%.
Bitwise also projected expanding institutional access in 2026 and stated “ETFs will purchase more than 100% of the new supply of Bitcoin as institutional demand accelerates.” These dynamics suggest ETF demand could remain a key price driver.
