Bitcoin ETF Inflows Reverse Course as Ethereum Surpasses Expectations

The third quarter saw a significant turnaround in U.S. spot Bitcoin ETFs, which attracted $6.34 billion in net inflows after losing around $5 billion in the second quarter, according to SoSoValue data.

This influx of capital came as Bitcoin gained 42.7% in value during the third quarter, its strongest quarterly performance since the fourth quarter of 2024.

However, ETF investors may be more interested in developments beyond Bitcoin, as U.S. spot Ethereum ETFs attracted approximately $3.05 billion in the third quarter, reversing about $714 million of outflows in the second quarter.

Ethereum itself gained roughly 71% during the quarter, substantially outperforming Bitcoin. The flows were also broadening into smaller crypto assets, with U.S. spot XRP ETFs pulling in approximately $308 million during the third quarter, taking cumulative inflows since launch to about $1.79 billion.