- Bitcoin ETFs attracted $2.2 billion in weekly inflows, and BlackRock’s IBIT led with $466.5 million in purchases on October 2 alone.
- The Bitcoin price broke above $120,000 this week, gaining over 10% as institutional accumulation reached its highest level since August.
- On-chain data shows wallets holding 10 to 1,000 BTC are steadily buying, while retail selling has slowed significantly.
Bitcoin has climbed above $120,000 for the first time since August, driven by substantial institutional investment through exchange-traded funds. The cryptocurrency’s rally reflects growing confidence among institutional investors despite broader economic uncertainties.
Record ETF Inflows Signal Strong Institutional Demand
U.S. spot Bitcoin ETFs recorded $2.2 billion in net inflows this week, according to SoSoValue data. The surge marks a dramatic reversal from September’s turbulent start, which saw nearly $1 billion in outflows during the month’s first weeks.
Source: SoSoValue; Bitcoin ETF Weekly Inflows
On October 2 alone, Bitcoin ETFs collectively added 5,290 BTC valued at approximately $627 million. BlackRock’s iShares Bitcoin Trust led the charge with purchases of 3,930 BTC worth $466.5 million. Fidelity’s FBTC followed with inflows of $89 million.
September ultimately closed with $3.5 billion in total net inflows across all U.S. Bitcoin ETFs. Market analysts attribute the primary catalyst to the Federal Reserve’s interest rate cuts. Weak U.S. payroll data has strengthened expectations for additional monetary easing, improving the appeal of risk assets like Bitcoin.
BlackRock’s IBIT has also overtaken Deribit as the largest platform for Bitcoin options trading. This achievement follows the SEC’s approval of options trading for IBIT earlier in 2025.
Ethereum ETFs have similarly attracted investor attention, though at lower volumes. BlackRock’s ETHA led Ethereum products with $177 million in inflows, while Fidelity recorded $60.7 million. However, ETH funds managed less than $100 million in combined inflows over three consecutive days last week, underperforming relative to Bitcoin’s momentum.
Market Indicators Point to Sustained Upward Pressure
Bitcoin reached $120,015 this week, posting gains of more than 10%. The rally occurs during “Uptober,” a period historically associated with positive cryptocurrency performance.
On-chain metrics support the bullish outlook. Bitcoin’s Accumulation Trend Score hit 0.62, its highest level since August. Wallets holding between 10 and 1,000 BTC have been accumulating steadily, absorbing selling pressure from larger holders. Reduced retail selling has further tightened exchange supply.
Arkham Intelligence noted that the estimated 1.1 million BTC attributed to Bitcoin creator Satoshi Nakamoto now holds a value exceeding $130 billion. These coins have remained dormant since 2010.
SATOSHI’S NET WORTH IS NOW BACK ABOVE $130 BILLION
HE HAS NEVER SOLD $BTC pic.twitter.com/RdcLK21SDX
— Arkham (@arkham) October 2, 2025
Crypto analyst Michael van de Poppe projects continued strength for Bitcoin throughout October. He suggests the cryptocurrency could establish a new all-time high if current consolidation patterns hold. The combination of institutional buying and favourable on-chain metrics creates conditions for further price appreciation.
The contrast between the performance of Bitcoin and Ethereum ETFs highlights shifting institutional preferences. Bitcoin products continue to dominate capital flows as investors position for potential Fed policy changes and macroeconomic shifts heading into the final quarter of 2025.
Source: X
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