Bitcoin ETFs See $241 Million Inflow as Institutional Demand Surges

Bitcoin ETFs continued to attract significant inflows last week, reflecting growing institutional confidence in the cryptocurrency market. Net spot Bitcoin ETF flows reached $241 million, marking the third consecutive week of positive inflows. This trend follows a surge in sentiment during September, with traders increasingly optimistic about Bitcoin's price potential.

According to SoSoValue data, all-time net inflows for Bitcoin ETFs now stand at $57.8 billion, with a $2.4 billion increase over just two weeks. This bullish momentum comes after a period of stagnation that had pushed prices below key support levels. On October 2, net inflows hit $189 million, led by BlackRock’s iShares Bitcoin Trust, which contributed $158.2 million. Other notable inflows included $29.3 million from Fidelity Wise Origin Bitcoin Fund and $2.4 million from MSBT.

Bitcoin’s price briefly approached $87,000, an eight-month high, before retreating to the $86,000 range. Analyst Javi Q attributed this movement to softer-than-expected U.S. jobs data, which reduced expectations of a Federal Reserve rate hike, alongside renewed interest in spot Bitcoin ETFs. In contrast, altcoins saw minimal trading activity as investors shifted focus toward Bitcoin. Ethereum ETFs experienced $138 million in outflows, though Solana and XRP saw gains of $2.4 million and $4.7 million, respectively.