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XRP Spot Bitcoin ETFs continue to gain favor, and return institutional confidence drives the market to rebound
Despite the volatility of altcoins and price shocks in midweek, the Exchange-Traded Funds still showed strong momentum, recording net inflows for the third consecutive week. As institutional investor confidence returns, bull forces are trying to use this moment to break through key price levels in the coming months.
Bitcoin funds achieve three consecutive weeks of capital inflows
Last week, the net capital flow of the spot Bitcoin ETF reached US$241 million, marking its continuation in the "green range"(i.e., net inflow status) for three weeks. The trend followed a rebound in market sentiment in September, as traders began to observe more positive movements than in previous months.
According to SoSoValue, the historical cumulative net inflow of Bitcoin ETF has reached US$57.8 billion after a large increase in holdings last month. Investor funds rose by $2.4 billion in just two weeks, indicating that the market has turned bullish after a previous downturn that caused prices to fall below multiple support lines.
On October 2, the single-day net inflow was US$189 million, mainly dominated by BlackRock's iShares Bitcoin Trust Fund. In terms of weekly trading volume, the fund contributed approximately US$158.2 million, accounting for the largest proportion. Fidelity's Smart Origins Bitcoin Fund attracted $29.3 million, while MSBT attracted $2.4 million.
Overall, this reflects the strong demand that has been demonstrated during each price rise since the launch of the spot Bitcoin ETF in the United States. As a window for traditional companies to increase their exposure to cryptocurrencies, these funds are becoming increasingly popular among traditional customer groups who have previously shunned such assets.
Currently, capital inflows from these funds are an important indicator of institutional sentiment over a given period of time. Unlike retail investors, Bitcoin's institutional demand can directly drive price movements and is often triggered by macroeconomic events.
Bitcoin miner Javi said on Platform X (formerly Twitter):"Today the price moved towards US$87,000 again, almost hitting an eight-month high, and then fell back to the US$86,000 region. This is the second time this week that sellers have strongly defended this resistance level. This fluctuation was mainly affected by the lower-than-expected U.S. employment data, which lowered expectations for the Federal Reserve to raise interest rates, and also benefited from the return of spot Bitcoin ETF funds."
On the other hand, due to the trend of investors turning to Bitcoin, the trading volume of altcoins is generally low. Last week, spot Ether ETFs posted a net outflow of $138 million, reducing their year-to-date net inflow to $1.5 billion. However, Solana and XRP continued their positive performance, receiving net inflows of $2.4 million and $4.7 million respectively.
