U.S. Spot Bitcoin ETFs Pull In $2.65B Net Inflows in September

U.S. spot Bitcoin exchange-traded funds attracted about $2.65 billion in net inflows in September, marking the second-largest monthly intake since October 2025, as institutional participation remained resilient. Data from SoSoValue show September's figure trailed August's $3.52 billion, but still stood well above most monthly levels seen over the past year. Spot Ethereum ETFs also posted net inflows of $832.43 million in September, down from $1.85 billion in August. Even so, September ranks as the second-largest monthly inflow since the spot Ethereum ETFs launched in August 2025. Momentum carried into October. On the first trading day of the month, spot Bitcoin ETFs added $102.7 million, while Ethereum ETFs recorded $55.4 million in net outflows. Dominick John, an analyst at Zeus Research, told The Block that continued ETF inflows suggest institutional demand "has not faded," supporting the case for a more durable recovery. He said sustained inflows, alongside signs that a fourth-quarter base may be forming, point to improving sentiment and could set up a more constructive backdrop into the year-end quarter. Bitcoin (BTC) rose 3.1% over the past 24 hours to $86,626 as of 1:00 a.m. Eastern time Friday, while Ethereum (ETH) gained 1% to $2,735, according to The Block's price data. The Crypto Fear and Greed Index stood at 69, in "greed" territory. John said the reading indicates sentiment has strengthened without reaching extreme levels. John added that investors will keep tracking ETF flows for confirmation that institutional demand remains intact, while paying close attention to U.S. macro signals. He highlighted the initial jobless claims report due Oct. 8 as a key checkpoint for labor-market conditions, and said inflation releases and Federal Reserve commentary could reshape interest-rate expectations.