Bitcoin firms bought $1.2B last week, but BTC ETFs stole the show

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While Bitcoin treasury companies accumulated $1.2 cardinal successful BTC past week, analysts suggest that Bitcoin’s caller all-time precocious was much apt driven by inflows into Bitcoin exchange-traded funds.

Bitcoin went connected to spike coming into the weekend, hitting a caller all-time high of implicit $125,000 connected Saturday.

Bitcoin (BTC) treasury companies purchased much than 6,702 coins implicit the week, led by Japanese concern steadfast Metaplanet, which added 5,258 Bitcoin connected Oct. 1.

In comparison, spot Bitcoin ETFs recorded a nett inflow of $3.24 billion past week, astir matching their grounds week successful November 2024.

ETF inflows down terms spike

Vincent Liu, Chief Investment Officer astatine quantitative trading steadfast Kronos Research, told Cointelegraph that it was the ETF inflows that sparked Bitcoin’s terms increase.

However, determination were besides different factors, specified arsenic “tight speech supply, a weaker dollar, and macro uncertainty. Strong organization request is reinforcing the bullish momentum this past weekend,” helium added.

Institutions person been snapping up much Bitcoin than miners tin supply this year. On average, miners make astir 900 Bitcoin per day, portion a September study from fiscal services institution River recovered that businesses acquired 1,755 Bitcoin per time and ETFs bought 1,430 Bitcoin per time connected mean successful 2025.

Analysts from the Bitfinex crypto speech predicted successful August that a caller altcoin play oregon rally could besides beryllium sparked by caller crypto ETF approvals, which would supply investors with vulnerability to the coins with little risk.

Wild week for Bitcoin ETFs

Crypto expert and trader Will Clemente III besides pointed to ETF inflows arsenic a catalyst for Bitcoin's caller surge successful an X station connected Sunday.

“Possible we get 1 past dip, but the astir bullish happening astir this determination connected Bitcoin is that it wasn’t driven by treasury companies oregon perp degens, it was driven by spot ETF buying — which is apt macro PMs and funds viewing BTC arsenic a rotation from commodities & tiny caps,” helium said.

Bloomberg Intelligence expert Eric Balchunas besides said Bitcoin's all-time precocious came aft ETFs went “wild past week with +$3.3 cardinal successful a week, $24 cardinal for the year.”

ETFs volition apt substance much increases

Bitcoin ETF inflows volition apt beryllium a catalyst for further increases toward the extremity of the year.

Liu said Bitcoin's fourth-quarter outlook volition beryllium shaped by “institutional adoption, but shrinking supply, and macro tailwinds, with its relation arsenic a fiat debasement hedge adding support. Thinner liquidity and ETF inflows volition substance rallies and volatility.”

“Future Bitcoin gains volition apt plaything connected organization adoption, regulatory clarity, tightening proviso arsenic speech balances deed a six-year low, and a supportive macro situation with prolonged debased involvement rates.”

Strategy enforcement president and Bitcoin bull Michael Saylor besides predicted successful September that Bitcoin would commencement to summation momentum again toward the extremity of the year, aft facing upward unit from increasing firm and organization interest.

ETFs clasp much than 1.5 cardinal Bitcoin worthy $188 billion, representing 7.2% of the full supply, according to Bitbo.

Meanwhile, firm Bitcoin treasuries present exceed 1.4 cardinal coins, representing 6.6% of the full supply, and are valued astatine implicit $166 billion.

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