US spot bitcoin ETFs draw $2.65 billion in September inflows

U.S. spot bitcoin ETFs recorded $2.65 billion in net inflows in September, their second-largest monthly total since October 2025. According to SoSoValue data, bitcoin ETF inflows fell from $3.52 billion in August but remained high relative to levels seen during the past year. Spot ether ETFs drew $832.43 million in September, compared with $1.85 billion in August. September was the second-largest monthly inflow for ether ETFs since August 2025. Bitcoin ETFs recorded another $102.7 million in inflows on the first day of October. However, ether ETFs had $55.4 million in outflows that day. Zeus Research analyst Dominick John said the ETF inflows suggest institutional demand has not faded and point to a more sustained recovery. John said the fourth-quarter market bottom seems to be established. John said continued ETF inflows signal improving sentiment and a potentially more bullish final quarter. Bitcoin rose 3.1% over 24 hours to $86,626 as of 1:00 a.m. ET Friday, according to The Block's price page. Ether rose 1% over the same period to $2,735. The Crypto Fear & Greed Index stood at 69, in greed territory. John said that reading suggests sentiment has strengthened without reaching extreme levels. John said traders will watch ETF inflows and key U.S. economic data for signs of sustained institutional demand. John said the October 8 jobless claims report will provide another reading on the U.S. labor market. John added that inflation data and Federal Reserve commentary could shift interest-rate expectations.