U.S.-based spot bitcoin exchange-traded funds are experiencing a resurgence in popularity, although not yet at the velocity that has historically sparked significant price surges.
Data compiled by SoSocialValue indicates that these domestically listed products have secured over $1 billion in capital from investors throughout the week.
Market experts view this trend as an indication of renewed institutional appetite for the digital asset, alongside a caution that the accumulation rate must stay strong to support a lasting upward trajectory for bitcoin.
“Institutional demand shows tentative improvement. However, flows remain volatile and sustained inflows are needed to confirm a stronger recovery,” Vikram Subburaj, CEO of India-based Giottus, communicated via email.
Historical context provides backing for this view. Previous substantial bull runs featured average daily net inflows surpassing $200 million.
Ever since these financial products debuted in January 2024, bitcoin has experienced three major upward surges, defining a period where the cryptocurrency appreciated by more than 50% without dropping past 20% from its peak along the way.
During the initial surge, spanning from January 23 through March 14, 2024, bitcoin climbed 79% moving from approximately $39,900 to $71,400. These funds attracted a daily average of $294 million, recording 10 sessions with $500 million or more and one session hitting $1 billion or higher.
The second wave occurred from August 5 to December 17, 2024, during which bitcoin advanced 96%, shifting from roughly $54,100 to $106,100. Average daily deposits stood at $202 million, encompassing 16 days of $500 million or greater alongside three days reaching $1 billion or more.
Throughout the third advancement, lasting from April 6 to July 14, 2025, bitcoin expanded by 53%, transitioning from approximately $78,400 to $119,900. Inflows recorded a daily average of $248 million, featuring 13 days of $500 million or higher and two days of $1 billion or greater.
Across those combined 199 trading sessions, the investment vehicles accumulated $46.7 billion, averaging around $235 million per day, which included 39 days of at least $500 million and six days of $1 billion or more.
Present velocity remains comparatively reduced.
Starting from July 1, bitcoin has climbed 39%, moving from about $60,000 to $83,500. Within this timeframe, the financial vehicles recorded seven days reaching $500 million or above, translating to roughly one out of every 11 trading sessions, compared to roughly one out of five during the trio of primary rallies.
The daily average of roughly $86 million falls significantly short of the $200 million-plus observed in those major bull phases, and not a single day crossed the $1 billion threshold.
Therefore, referencing historical patterns, a steep upward trajectory from this point forward would demand consistent deposit momentum. Nevertheless, historical precedent serves as a reference rather than a guarantee, meaning that buying pressure originating from alternative avenues, such as derivatives trading or direct token acquisitions in the spot market, can likewise elevate valuations.
Originally published at https://www.coindesk.com/markets/2026/10/22/bitcoin-etfs-attract-usd1-08-billion-in-3-days-but-it-may-not-be-enough-for-a-steep-rally.
