Bitcoin ETFs just erased a $5.7 billion hole, but profit-taking is swallowing the new demand

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.ETF buying repairs a $5.7 billion holeThe 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.US Bitcoin ETFs Year-to-Date Cumulative Flows (Source: Galaxy Digital)Bloomberg Intelligence ...