Bitcoin

<h2 id="header-0">Bitcoin News</h2>
Fiscal policy, not crypto-specific news, appears to be driving the latest turnaround in US Bitcoin funds.&nbsp;
After the Treasury Department said it would expand buybacks of long-dated government bonds, Bitcoin (<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/bitcoin/">BTC</a>) exchange-traded funds began absorbing billions of dollars, enough to erase a deficit that had persisted for most of 2026.
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/2a4d86f3d9104d0b97661a17c7fafd86.png">
The shift stands in sharp contrast to mid-September, when <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/glossary/bitcoin-etf">Bitcoin ETFs</a> lost close to $750 million across two days after the CLARITY Act failed a Senate vote. Nine trading days later, the same funds were sitting on a seven-day inflow streak.
<h2 id="header-1">How the Deficit Closed</h2>
Year-to-date flows had been negative for most of 2026, bottoming out near $5.8 billion in the red in mid-July. That gap closed gradually over the following two months before flipping positive on Sept. 22, the first time the funds had shown a year-to-date gain since May.
BlackRock's IBIT drove much of the recovery. The fund's weekly total reached $1.2 billion, its second-best week since October 2025, while Fidelity's FBTC posted its strongest week since early September of last year at $701.7 million. Smaller contributions came from Ark and 21Shares' ARKB and from Morgan Stanley's fund, both logging some of their best weeks since launch.
<h2 id="header-2">A Slowing Pace Inside a Winning Streak</h2>
The streak itself began Sept. 17 and ran seven consecutive sessions through Sept. 25, adding roughly $3 billion in that stretch. But the pace inside that streak was uneven: after opening with a nearly $1 billion day and continuing with a $715 million session, daily inflows shrank on each of the three days that followed, closing the week at a fraction of where it began.
Bloomberg Intelligence's Eric Balchunas addressed a question hanging over the rally: how much of it reflects genuine demand rather than hedge funds arbitraging ETF shares against futures. He<a target="_blank" rel="noopener noreferrer nofollow" href="https://x.com/EricBalchunas/status/2102409322638520734"> wrote</a> that such trading was only a minor factor behind the numbers.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/9c58450bd346492aa7482e8eb90ec052.png">
NovaDius Wealth Management's Nate Geraci quantified the Treasury connection directly,<a target="_blank" rel="noopener noreferrer nofollow" href="https://x.com/NateGeraci/status/2102747587648315900"> writing</a> that the funds had taken in $4.6 billion specifically since the buyback announcement.
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/bfcb3eb5c00f4941a67b2e53f57f94ee.png">
Related Article: <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/article/bitcoin-price-pulls-back-87k-altcoins-rally">Bitcoin Price Pulls Back From $87K High as Altcoins Rally — What's Next?</a>&nbsp;
One consequence of the rally reached beyond the flow figures themselves. Because the typical ETF holder's break-even point sits in the low $80,000s, Bitcoin's move back above that threshold meant the average fund investor returned to profit for the first time since the start of the year.
Whether the streak continues matters more than its size so far. Total inflows since the products launched in 2024 have topped $57 billion, yet even a full year of buying at the current pace would leave 2026 well behind the roughly $21 billion the funds collected in 2025.
<h2 id="header-3">Broader Crypto ETFs Followed the Same Pattern</h2>
The rebound wasn't confined to Bitcoin. Spot Ethereum (<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/ethereum/">ETH</a>) funds swung from a $140 million loss the prior week to a $689.9 million gain, led by BlackRock's ETHA and Fidelity's FETH. It marked the strongest week for ETH products since late August.
Solana (<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/solana/">SOL</a>) funds saw their own version of the trend concentrated into a single session: Friday's inflow was the largest single day since the funds debuted last October, driven mostly by Bitwise's BSOL. That pushed combined Solana fund assets to a new high. <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/xrp/">XRP </a>funds added a more modest sum for the week, while Grayscale's Zcash (<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/zcash/">ZEC</a>) product crossed $1 billion in assets for the first time on Thursday.

Bitcoin ETFs Erase 2026 Losses as Treasury Buybacks Fuel Rally

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