Bitcoin exchange-traded funds (ETFs) have erased their 2026 flow deficit after a sharp buying revival, even as the top crypto struggles to hold its latest gains.

Data from SoSoValue shows that the US-listed funds have attracted more than $1.7 billion in fresh capital this week, with the products drawing $999 million on Sept. 21 and $715 million on Sept. 22.

At the current pace, the funds are positioned to surpass their strongest inflow week of the year, when they drew about $1.92 billion during the week ended Aug. 21.

BlackRock has captured a disproportionate share of the latest demand, with its iShares Bitcoin Trust ( IBIT ) attracting roughly $1.02 billion over four trading sessions, according to Arkham Intelligence.

The latest inflows cap a sharp reversal for a market that had accumulated a $5.69 billion year-to-date deficit by July 13.

Askthetape data show roughly $6.04 billion has flowed back into the products since that trough, pushing the annual tally to about $349 million in net inflows. About $3.17 billion of the recovery came during the past 30 days.

Bloomberg Intelligence ETF analyst Eric Balchunas said the renewed demand began gathering pace in August after Treasury Secretary Scott Bessent signaled increased purchases of longer-dated government bonds, a development some market participants interpreted as evidence of mounting pressure in long-duration debt markets.

Bitcoin has risen about 35% since then, climbing from roughly $64,100 to above $85,000, while the ETFs absorbed about $4.6 billion over the same period, Balchunas said.