Bitcoin Whales Add 41,025 BTC in 10 Days as Spot ETFs Pull In $2.4B

Bitcoin’s largest holders have returned to accumulation, adding more than 41,000 BTC over the past 10 days, while smaller retail wallets have shown little movement. The shift follows a rally that took BTC above $87,400 before it slipped toward $83,000 and then recovered to trade back above $85,000, leaving prices range-bound after a strong quarterly run. On-chain data indicates big holders are using the consolidation to rebuild exposure rather than chase momentum. Santiment reports that wallets holding between 10 and 10,000 BTC added 41,025 BTC in the latest 10-day window, lifting their combined balance to 13.64 million BTC—about 67.93% of total supply. By contrast, wallets holding less than 0.01 BTC were largely unchanged over the same period. While wallet-based metrics can be influenced by exchange and custody structures and do not identify individual owners, the divergence is still closely watched as a signal of underlying demand. The accumulation trend has also been visible in the 100–1,000 BTC cohort. Those wallets added 113,950 BTC from July 15 to September 23, bringing the group’s holdings to roughly 5.24 million BTC. Institutional demand continues to provide a separate tailwind. U.S. spot Bitcoin ETFs drew $2.4 billion in net inflows during the week ended September 25, the strongest weekly intake since October 2025. The jump pushed 2026 net flows back into positive territory, with BlackRock’s IBIT contributing about $1.2 billion of the weekly total. The ongoing streak of inflows over seven sessions is estimated at around $3 billion. Corporate treasuries are also adding to demand. Strategy bought 1,665 BTC for approximately $142.7 million at an average price of $85,681, raising its holdings to 847,666 BTC. Strive separately acquired 1,107 BTC for $94.5 million, lifting its balance to 27,462 BTC. For the market, the key question is whether whale accumulation persists alongside continued positive ETF flows. If large buyers keep absorbing supply while smaller wallets stay inactive, it may signal long-term positioning during consolidation and could further tighten available coins as holdings shift into longer-term custody.