比特幣和以太坊ETF吸引26億美元：機構幣種需求回來了嗎?

摘要

美國現貨比特幣和以太坊ETF在截至8月21日當週錄得約26億美元的合計淨流入，這是自2025年10月以來最強勁的合計週表現。

現貨比特幣ETF吸引了約19億美元，而現貨以太幣ETF則獲得了約6.972億美元。合計交易量攀升至約290億美元，較前一週增長超過兩倍。

這些數據提供了強有力的證據，顯示在最新一輪幣種上漲行情中，機構及券商渠道的需求已重新回歸。然而，單一強勁的一週並不足以證實長期持續的ETF資金流入週期已經啟動。

有多少資金流入比特幣和以太坊 ETF？

根据The Block对SoSoValue数据的分析：

兩個類別均錄得2026年以來最強勁的週度資金流入。

這一轉變尤其引人注目，因為前一週的合計資金流出約為3.92億美元。

這代表淨流入方向出現了約30億美元的週環比變化。

查看 The Block 的完整 ETF 資金流向分析

為何 ETF 資金流入對比特幣和以太幣至關重要

現貨ETF為投資者提供了一條受監管的途徑，使其能夠透過傳統證券帳戶獲得幣種曝險。

當資金流入現貨比特幣或以太幣 ETF 時，授權參與者及其他市場中介機構最終需要透過基金的底層市場結構來支持新 ETF 份額的創建。

這使得ETF持續的資金流入成為透過傳統金融管道反映需求的重要指標。

對於不熟悉此機制的讀者，MEXC 學院在什麼是現貨比特幣 ETF？定義、批准與資金流動方式中解釋了其結構。

上週發生了什麼變化？

最大的變化並非單純是資金流向轉為正數。

這是以下因素的結合：

更大的資金流入 + 更高的交易量 + 加密貨幣價格急劇上漲。

比特幣ETF交易量從前一週的約69億美元上升至221億美元，而以太幣ETF交易量則從約19億美元增加至69億美元。

本週中段的買盤尤其強勁。

The Block 報導，週三比特幣 ETF 流入約 5.172 億美元，週四再流入 6.063 億美元。

MEXC 早已察覺 ETF 資金流向逆轉

這一變化在每週總額完成之前就已顯而易見。

MEXC 的 8 月 20 日 Alpha Trader 報告指出，美國現貨比特幣 ETF 錄得 1.893 億美元的單日淨流入，而現貨以太幣 ETF 則吸引了 7,140 萬美元。該報告強調連續的正向資金流入天數，可能是機構資金回流的跡象。

閱讀 MEXC Alpha Trader – 產業日報，2026年8月20日

後續的週度數據大幅強化了該信號。

Are ETF Flows Driving the Crypto Rally?

They appear to be one contributor, but they should not be treated as the only cause.

Bitcoin's rebound has coincided with:

• a major short squeeze;
• changing Treasury-market liquidity expectations;
• improving regulatory sentiment;
• renewed institutional ETF buying;
• stronger momentum across major altcoins.

Bitcoin briefly moved above $79,000 during the week, while Ether also rallied sharply.

ETF flows can reinforce price momentum because higher prices attract investor attention while inflows can add new spot demand.

The reverse is also possible: rising crypto prices can themselves attract ETF investors.

That makes causality difficult to isolate.

Does This Mean Institutional Demand Is Fully Back?

The best answer is: it has returned sharply, but durability has not yet been established.

The latest week was the strongest of 2026, yet The Block noted that Bitcoin ETFs were still approximately $2.9 billion negative for the year and Ether ETFs approximately $191.8 million negative on a year-to-date basis after earlier weakness.

Therefore, investors should distinguish between:

a powerful weekly reversal

and

a confirmed multi-month institutional accumulation trend.

Several more weeks of data would be needed to establish the latter.

What Should Investors Watch Next?

The most useful indicators are:

1. Whether weekly ETF inflows remain positive.
2. Whether Bitcoin and Ether ETF trading volumes stay elevated.
3. Whether inflows continue during market pullbacks rather than only during rallies.
4. Whether Ether ETF demand begins closing the gap with Bitcoin.
5. Whether price appreciation is supported by spot buying rather than primarily derivatives liquidations.

MEXC Learn's broader What Is Bitcoin ETF and How to Invest? provides additional background for readers comparing direct Bitcoin ownership with ETF exposure.

FAQ

How much money entered Bitcoin ETFs last week?

U.S. spot Bitcoin ETFs recorded approximately $1.9 billion in weekly net inflows.

How much entered Ethereum ETFs?

Spot Ether ETFs attracted approximately $697.2 million.

What was the combined ETF inflow?

Approximately $2.6 billion.

Was this the strongest ETF week of 2026?

Yes. Both Bitcoin and Ether ETF categories recorded their strongest weekly inflows of 2026.

Do ETF inflows guarantee Bitcoin will keep rising?

No. ETF demand is an important market indicator, but prices also depend on liquidity, leverage, macro conditions, regulation and investor sentiment.