- US spot Bitcoin ETFs recorded US$148.7 million in net outflows on 30 September, ending nine consecutive days of inflows totalling US$3 billion.
- September still posted US$2.65 billion in net inflows, extending the sector’s positive monthly streak to three months.
- ETFs, governments, listed and private companies, and miners collectively hold nearly one-fifth of Bitcoin’s total supply.
- Bitcoin traded around US$85,468, up 2.1% in 24 hours and more than 10% over the past month, despite remaining below its record high.
The recent run of inflows into US spot Bitcoin exchange-traded funds (ETFs) has come to a screeching halt. After nine days of net inflows, with a whopping US$3 billion (AU$4.3 billion) entering the funds, Wednesday, 30 September, saw US$148.7 million (AU$214.6 million) in net outflows. The most recent figures for 1 October are not yet available for all issuers, according to data from Farside.
Fidelity’s FBTC saw the largest net outflows, at US$125.6 million (AU$181.2 million), while Bitwise’s BITB and BlackRock’s IBIT fared somewhat better, with US$13.6 million (AU$19.6 million) and US$9.5 million (AU$13.7 million) in net outflows, respectively.
Nevertheless, the strong inflows have offset much of the outflows from earlier this year. As Bloomberg senior ETF analyst Eric Balchunas notes, cumulative flows are edging higher, potentially setting a new all-time record soon.
In total, September recorded slightly lower net inflows than August, at US$2.65 billion (AU$3.82 billion) versus US$3.52 billion (AU$5.07 billion). This marks a three-month streak of net inflows, with US$172.43 million (AU$248.69 million) recorded in July, following two months of net outflows totalling almost US$7 billion (AU$10 billion) across May and June.
Read more: Singapore Reclaims Crypto Lead as Activity Surges
Institutions Won’t Sell as Bears Go to Sleep
According to BiTBO, major holders of Bitcoin include ETFs worldwide (7%), countries (2.46%), public companies (5.77%), private companies (2.1%) and mining companies (0.49%).Together, these groups hold nearly a fifth of Bitcoin’s total supply. As previously reported, a recent Bitwise survey found that none of the institutional HODLers surveyed sold any BTC during the recent bear market.
Bitcoin is currently trading at US$85,468 (AU$123,239), a 2.1% increase over the past 24 hours. While BTC is still down from its all-time high of US$126,198 (AU$181,970), reached on 7 October 2025, it has gained more than 10% over the past month.
Balchunas said bears would be contemplating hibernation despite the failure of the CLARITY Act and US rate hikes.
That’s gotta be demoralizing for bears even if they won’t admit it. But who knows.. Just my read on situation right now.
Eric Balchunas, Bloomberg senior ETF analyst Read also: Australia’s Interest Rates Hit 15-Year High as RBA Hikes Again
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