by Coinstrooper Crypto Articles
Quick Take
  • US spot Bitcoin (BTC) exchange-traded funds (ETFs) have added only about $232 million over 13 sessions.
  • Bitcoin ETF inflows totaled $1.7 billion across September 21 and 22, then went quiet.
  • Bitcoin’s price recovered to above $83,000 overnight while US-listed funds were not trading, so ETF buyers have not confirmed the move.
  • Data tracker SoSoValue shows the funds drew $999 million on September 21 and $714.8 million on September 22.

What Happened

US spot Bitcoin (BTC) exchange-traded funds (ETFs) have added only about $232 million over 13 sessions. Bitcoin ETF inflows totaled $1.7 billion across September 21 and 22, then went quiet.

What Happened to Bitcoin ETF Inflows After September 22?

Data tracker SoSoValue shows the funds drew $999 million on September 21 and $714.8 million on September 22. Cumulative inflows hit $56.87 billion by the end of that second day.

Market Context

Bitcoin’s price recovered to above $83,000 overnight while US-listed funds were not trading, so ETF buyers have not confirmed the move. Monday’s flow data will show whether they follow.

Total net assets fell from $110.77 billion on October 5 to $105.84 billion on October 9. Net outflows over that span totaled $591 million, so lower prices likely drove most of the drop.

US spot Bitcoin ETFs hold 6.38% of Bitcoin’s market value, according to SoSoValue, so their flows gauge institutional demand. A rally without them would need other buyers. Earlier this month, Glassnode data tied a pullback to weak trading volume.

Why It Matters

However, an inflow streak ended on September 30 with a $148.7 million outflow, and ETF demand has faded since.

Brief relief followed, with $102.7 million entering on October 1 and $189.8 million on October 2.

Details

Then the two largest outflows of the past 13 sessions hit on October 7 and 8, totaling $731.2 million.

Can One Fund Carry the Recovery?

Friday’s $21.13 million inflow ended a two-day outflow run. BlackRock’s iShares Bitcoin Trust (IBIT) took in $22.38 million, more than the day’s net total.

In contrast, Fidelity’s Wise Origin Bitcoin Fund (FBTC) lost $3.58 million. Nine of the 12 funds posted zero flows.

IBIT alone holds $66.3 billion of the $105.84 billion in total net assets, about 63%. Grayscale Bitcoin Trust (GBTC), meanwhile, has recorded $27.94 billion in cumulative net outflows.

Friday’s $1.44 billion in total value traded was the lowest of the 13 sessions. October 8 had marked the highest, at $3.18 billion.

A Fear and Greed sentiment reading of 39 sits in the fear zone, according to CoinGecko.

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