Spot bitcoin ETFs log $2.7 billion in September inflows as institutional demand holds

U.S. spot bitcoin ETFs recorded $2.65 billion in net inflows in September, their second-largest monthly inflow since October 2025, as institutional demand continued.

According to SoSoValue data, September's inflows were down from $3.52 billion in August but remained well above levels seen throughout the past year. Spot ether ETFs also drew $832.43 million in September, compared with $1.85 billion in August. The September total was their second-largest monthly inflow since August 2025.

Bitcoin ETF inflows have continued on the first day of October, reporting $102.7 million. Ether ETFs, on the other hand, shed $55.4 million.

Dominick John, analyst at Zeus Research, told The Block that the ETF inflows suggest that institutional demand "has not faded," pointing to a more sustained recovery.

"With the Q4 bottom seemingly established, continued ETF inflows also signal improving market sentiment and a potentially more bullish setup heading into the final quarter," said John.

Bitcoin (BTC) climbed 3.1% over the past 24 hours to $86,626 as of 1:00 a.m. ET Friday, while ether (ETH) rose 1% to $2,735, according to The Block's price page.

The Crypto Fear & Greed Index stood at 69 in greed territory, "suggesting sentiment has strengthened without reaching extreme levels," said John.

John also said that traders will continue to watch ETF inflows for signs of sustained institutional demand, alongside key U.S. economic data. "The Oct. 8 jobless claims report will offer another read on the U.S. labor market, while inflation data and Fed commentary could shift rate expectations," he added.