U.S. spot Bitcoin ETFs have attracted about $5.3 billion since the Treasury announced larger long-dated bond buybacks, according to ETF analyst Nate Geraci.
Summary
- $5.3 billion entered spot Bitcoin ETFs after Treasury announced larger long-dated bond buybacks in August.
- $2.4 billion flowed into U.S. Bitcoin ETFs during the week ending September 25 alone overall.
- $999 million entered the funds Monday, ranking as their ninth-largest daily inflow since launch historically.
- Bitcoin ETF flows turned positive for 2026 after reaching a $5.8 billion deficit during July.
- BlackRock’s IBIT led last week with approximately $1.2 billion in net inflows, market data shows.
Geraci said on Sept. 26 that the funds collected $2.4 billion during the latest week alone, while Monday’s roughly $1 billion intake ranked as the ninth-largest single-day inflow since U.S. spot Bitcoin ETFs launched in January 2024.
The rebound has pushed 2026 flows back into positive territory after the group sat nearly $5.8 billion in the red during July. Market data puts year-to-date net inflows near $934 million after the latest five-session run.
Bitcoin ETF inflows reach $5.3 billion since Treasury announcement
The U.S. Treasury announced on Aug. 19 that it would increase the maximum size of liquidity-support buybacks involving longer-dated nominal Treasury securities.
Operations covering the 10-to-20-year and 20-to-30-year sectors were raised from a maximum $2 billion to at least $4 billion each. The larger operations took effect Sept. 9 and are scheduled to remain in place through Nov. 4.
Geraci linked the timing of the ETF recovery to that policy announcement. His calculation puts cumulative spot Bitcoin ETF inflows since then at approximately $5.3 billion.
The figure describes two developments that occurred over the same period. It does not by itself establish that Treasury buybacks caused investors to allocate money to Bitcoin funds.
Treasury said the larger operations were intended to provide more liquidity in long-dated government bond markets. It cited consistently strong offers from market participants in those sectors as the reason for increasing the transaction sizes.
Treasury buyback program, the Aug. 19 announcement coincided with falling long-term yields and stronger risk-asset prices. The report noted that the 30-year Treasury yield declined after reaching a 19-year high.
Geraci’s observation focuses on ETF flows since the announcement date, while Treasury’s larger transactions themselves did not begin until Sept. 9.
Bitcoin ETFs collect $2.39 billion in one week
The strongest part of the ETF recovery came during the Sept. 21–25 trading week. U.S. spot Bitcoin funds drew approximately $2.39 billion over five consecutive positive sessions, according to Farside Investors data compiled by crypto.news. Monday generated about $999 million, followed by $714.7 million Tuesday and $346.9 million Wednesday.
Thursday added $190.7 million before another $134.5 million arrived Friday. The five sessions produced the largest weekly total since October 2025.
As crypto.news reported on the weekly ETF flows, BlackRock’s iShares Bitcoin Trust led the period with approximately $1.16 billion. Fidelity’s FBTC attracted $701.6 million, while ARK 21Shares’ ARKB added $294.7 million.
Morgan Stanley’s MSBT received another $203.3 million during the week, its largest weekly intake since the fund launched in April.
Monday’s $999 million intake was the strongest daily total of 2026 and the ninth-largest single-day inflow recorded by U.S. spot Bitcoin ETFs since their launch, according to SoSoValue figures cited by The Block. The pace slowed during each subsequent session, but the funds remained positive through Friday.
2026 ETF flows recover from a $5.8 billion deficit
The latest subscriptions reversed a much weaker first seven months of the year. U.S. Bitcoin ETFs were roughly $5.8 billion underwater on a year-to-date basis around July 13. The latest weekly inflows brought 2026 net flows to approximately $934 million above zero.
Separate Farside-based calculations put the year-to-date low near negative $5.69 billion. By Sept. 22, ETF flows had turned positive for the first time since May 26.
The funds have now collected approximately $57.6 billion in cumulative net inflows since their January 2024 launch, while total net assets stood near $108.4 billion at the end of Friday.
The turnaround did not occur in a straight line. During the Sept. 14–18 week, Bitcoin funds finished with only about $6.1 million in net inflows after losing a combined $746.3 million on Tuesday and Wednesday. Friday’s $433 million inflow erased most of that decline.
As crypto.news reported after the Federal Reserve meeting, flows changed direction on Sept. 17 with $159.5 million entering the funds. Another $433 million arrived the following session before demand accelerated the next Monday.
Bitcoin holds near $84,000 after ETF demand rises
Bitcoin’s price rose sharply during the ETF inflow streak before giving back part of the advance. BTC moved above $87,000 early in the week, reaching roughly $87,363 before retreating toward $84,000 by Sept. 26. Crypto.news put Bitcoin near $84,008 on Binance early Friday. The cryptocurrency remained up around 3.8% over seven days, while the total crypto market value stood close to $2.98 trillion.
In related coverage, crypto.news reported that the rally began alongside stronger ETF demand, with $999 million entering Bitcoin funds Sept. 21 and $714.7 million following a day later. Futures traders added more than $2 billion in open positions over the same period. Bitcoin subsequently pulled back despite continued ETF subscriptions. Crypto.news reported on Sept. 25 that funds remained in a six-session inflow streak even as BTC consolidated near $84,000.
Sell orders were concentrated between roughly $85,000 and $85,800 on Sept. 26, while the four-hour Supertrend indicator stood near $86,435. Bitcoin remained above its daily 20-period midpoint after retreating from the weekly peak.
Treasury buyback schedule runs through November 4
The Treasury’s expanded long-end buyback program remains scheduled through the current quarterly refunding period.
Under the Aug. 19 announcement, each operation in the targeted long-duration sectors can reach at least $4 billion, double the prior $2 billion maximum. Treasury said it would provide information on future buyback sizes during its next Quarterly Refunding on Nov. 4.
The department described the transactions as liquidity-support operations for older Treasury securities, not monetary stimulus or purchases conducted by the Federal Reserve.
Geraci’s $5.3 billion ETF calculation uses the Treasury announcement as the starting date for measuring Bitcoin fund flows. Bloomberg ETF analyst Eric Balchunas separately pointed to the same period while discussing the ETF rebound, according to The Block.
Friday’s $134.5 million intake extended the Bitcoin ETF inflow streak to seven trading sessions. The run beginning Sept. 17 accumulated approximately $3 billion before markets closed for the weekend.
Be the first to comment