Bitcoin Secures $2.5B Institutional Influx Amid Weakening Nasdaq Link
Bitcoin has been attracting significant institutional capital through multiple channels, despite a weakening relationship with the Nasdaq. According to CoinShares' Digital Asset Bi-Weekly Digest for September 29, digital asset investment products saw $3.55 billion in inflows last week, with Bitcoin accounting for $2.52 billion.
The largest weekly total of 2026 was driven by U.S. investors after the Federal Reserve removed a major source of policy uncertainty. However, the fund flows are only one part of the shift, as institutional participation is expanding across investment products, regulated futures, and corporate treasuries.
Bitcoin's correlation with the Nasdaq has fallen to its lowest level since 2024, while its correlation with the U.S. dollar is at the weakest point since 2023. This change may not be evidence of permanent decoupling, but it highlights a shift in Bitcoin's buyer base towards crypto-specific demand.
The CME basis trade has recovered to 5.2% over the past three months and reached 7.2% in recent weeks. Outstanding CME contracts have risen 72% from their June lows alongside that recovery, indicating institutional activity without every new dollar representing the same directional bet.