U.S.-listed exchange-traded funds tied to bitcoin and ether posted strong inflows last week, marking their busiest week in roughly three months.

The 11 spot bitcoin ETFs recorded a combined $1.42 billion in net inflows, the largest weekly total since mid-October, according to TradingView data. BlackRock’s iShares Bitcoin Trust (IBIT) accounted for the bulk of the demand, drawing in $1.03 billion.

Ether ETFs also saw significant inflows, attracting $479 million, their highest weekly total since early October. BlackRock’s ETHA fund led the group with $219 million of the total.

Year-to-date, bitcoin ETFs have amassed $1.21 billion in net inflows, while ether ETFs have brought in $584.9 million.

Analysts said much of the recent inflows reflects outright bullish positions, signaling the return of “sticky” institutional capital. This represents a shift away from cash-and-carry arbitrage strategies—long ETF positions hedged with short CME futures—which have become less attractive as yields compressed.

The influx of capital has supported prices. Bitcoin has risen about 6% this month to roughly $92,600, while ether has gained nearly 8% to around $3,200, according to CoinDesk data.

“The close link between ETF inflows and price movements shows that institutional investors are actively shaping the market rather than passively following retail sentiment,” said CoinDesk’s market insights model. “This contrasts with late 2025, when bitcoin struggled despite moderate ETF interest.”

The model added that institutions appear to be positioning ahead of potential regulatory clarity and macroeconomic developments expected in the first quarter of 2026.

Analysts caution that sustaining these ETF inflows will be critical for bitcoin and ether to continue climbing in the coming months, following substantial outflows late last year.