Bitcoin Price Surges 43%, ETFs Draw $6.3B as Q3 Sees Strong Inflows
Bitcoin's price surged nearly 43% in Q3, its strongest third-quarter performance since 2017. This uptrend coincided with a significant influx of capital into US spot Bitcoin exchange-traded funds (ETFs), which attracted $6.34 billion in net inflows during the quarter.
This represents the strongest quarter for these funds so far this year and marks a notable reversal from Q2, when they recorded about $5 billion in net outflows. September's inflows were somewhat weaker, with Bitcoin ETFs recording roughly $149 million in net outflows on Wednesday, snapping a nine-day inflow streak that attracted around $3.1 billion.
Other altcoin funds also saw significant activity, with XRP ETFs attracting $308 million in Q3 and cumulative net inflows reaching $1.79 billion. Ether gained about 71% during the quarter, while US spot Ether ETFs drew in approximately $3.05 billion.