Bitcoin, Ethereum Spot ETFs Pull in $4.54B in Week — BTC Sees Second-Largest Inflow Ever

Key Points

• From Sept 29 to Oct 3 (ET), Bitcoin spot ETFs recorded a net inflow of USD 3.24 billion, marking the second-highest weekly inflow since their launch.
• Ethereum spot ETFs saw a combined net inflow of USD 1.30 billion, with all nine ETFs posting positive flows for the week.
• The strong flows come as institutional investors renew interest in crypto-backed ETFs, and macro conditions favor risk assets.

Inflows Breakdown & Market Context

Bitcoin Spot ETF Flow

The USD 3.24 billion inflow to Bitcoin spot ETFs represented a sharp rebound^q from the prior week’s outflows (about USD 902.5 million).
This level of inflow is only outpaced by one prior week—the record week ending November 22, 2024, with USD 3.38 billion.
BlackRock’s IBIT led the inflows, reportedly pulling in USD 1.82 billion.
Fidelity’s FBTC also saw large inflows, contributing several hundred million.

Cointelegraph described the week’s inflows as kicking off “October,” referencing a historically strong October performance for crypto markets.
Analysts suggest that expectations for a U.S. rate cut and improved market sentiment drove many of these flows.

Ethereum Spot ETFs Flow

Ethereum spot ETFs also rebounded strongly, drawing USD 1.30 billion in net inflows over the same period.
BlackRock’s ETHA was a key contributor, responsible for a significant portion of the inflows.
This marked a reversal from recent outflow trends in Ethereum ETFs.
The cumulative net inflow for Ethereum spot ETFs is reported to be around USD 14.43 billion as of Oct 3.

What’s Driving the Surge?

1. Macro & Monetary Policy Tailwinds
   Speculation about future U.S. rate cuts and easing policy appears to have boosted risk-taking, helping to draw capital into crypto ETFs.
2. Rotation Into Regulated Exposure
   Investors seem to favor regulated, transparent instruments (like spot ETFs) over direct exchange exposure or derivatives, especially in uncertain markets.
3. Technical & Sentiment Triggers
   The positioning may have been aided by Bitcoin’s approach to critical resistance levels, triggering momentum-based inflows.
4. Liquidity & Accumulation Trends
   Rising ETF flows often correlate with broader accumulation trends (e.g. lower exchange balances, accumulation by whales) that create favorable supply-demand dynamics.

Risks, Caveats & Outlook

• Sustainability: Large weekly inflows may be hard to sustain; markets can quickly reverse.
• Valuation & Timing: If inflows happen too late in a rally, later entrants may see less upside.
• Regulatory Risk: ETF flows are sensitive to policy announcements and regulatory clarity or changes.
• Correlation Risk: Bitcoin and Ethereum may become more correlated² with macro assets (equities, bonds), reducing their safe-haven characteristics.

That said, the momentum may continue if macro conditions remain favorable, especially if rate cuts or easing signals materialize.

Bottom Line

Between September 29 and October 3 (ET), Bitcoin spot ETFs attracted USD 3.24 billion in net inflows—the second-highest week on record—while Ethereum spot ETFs pulled in USD 1.30 billion, with all nine funds reporting positive flows. The combined USD 4.54 billion inflow underscores renewed institutional demand in the crypto ETF space amid supportive macro sentiment and momentum in digital assets.

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