Bitaigen Research 
In this article we outline the latest two‑week inflow trend for the spot Bitcoin ETF, compare it with gold ETFs, and examine the deeper institutional demand dynamics that underpin it, helping readers spot key market signals. We also discuss the relationship between price volatility and fund flows to provide reference for future positioning.
Bitcoin ETFs have matched the 15‑year inflow of Gold ETFs within two years
In a post published on Saturday on X, Blockstream’s Head of Markets Fernando Nicolich noted that although gold ETFs have long held the dominant position, the Bitcoin ETF has amassed a cumulative net inflow in under two years that is roughly comparable to the total inflow gold ETFs have recorded over the past ~15 years.
Nicolich further explained that this milestone comes at a time when Bitcoin’s price has fallen about 46 % and has been languishing for several months. He believes that even with overall market sentiment weak, institutional demand for Bitcoin remains robust.
“People still arguing whether Bitcoin is ‘digital gold’ are simply wasting their breath,” he wrote. “Bitcoin doesn’t want to be gold; on the contrary, gold appears too sluggish.”
Spot Bitcoin ETF records two consecutive weeks of net inflows
The U.S. spot Bitcoin (BTC) ETF logged a net inflow of roughly $568.45 million this week, following a positive inflow of about $787.31 million the previous week, marking the product’s first double‑week inflow in five months. Prior to this, the ETF experienced five straight weeks of redemptions totaling about $3.8 billion; the largest single‑week net outflow occurred in the week ending January 30, amounting to approximately $1.49 billion.
Daily fund movements fluctuated: Monday saw a net inflow of $458.19 million, Tuesday $225.15 million, and Wednesday peaked at $461.77 million. Thursday turned negative with a net outflow of $227.83 million, and Friday recorded redemptions of $348.83 million.
Ethereum ETF also sees inflows this week
The U.S. spot Ethereum (ETH) ETF likewise achieved a second consecutive week of net inflows. This week’s cumulative inflow was about $23.56 million, up from $80.46 million the week before, representing the first back‑to‑back positive weeks since early October 2025.
Before this rebound, the ETF had five straight weeks of net outflows exceeding $1.38 billion, with the biggest single‑week net redemption occurring in the week ending January 23, at roughly $611 million.
Weekly fund performance also showed variation: Monday recorded a net inflow of $38.69 million, Tuesday experienced a net outflow of $10.75 million, Wednesday rebounded strongly with a net inflow of $169.41 million, and the pace gradually moderated thereafter.
The above outlines the spot Bitcoin (BTC) ETF’s first occurrence of two consecutive weeks of inflows in the past five months. For a deeper analysis of the double‑week inflow phenomenon, please refer to other articles published by Bitaigen.
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