Spot Bitcoin ETF net inflows reach approximately $2.7 billion in September as institutional demand shows no signs of cooling off.

TechFlow Summary: US spot Bitcoin ETFs saw net inflows of approximately $2.65 billion in September, marking the second-largest single-month inflow since October 2025; analysts note institutional demand has "not waned," with Q4 sentiment and macroeconomic data remaining key watchpoints.

US spot Bitcoin ETFs recorded $2.65 billion in net inflows for September, representing the second-largest single-month inflow since October 2025, indicating continued institutional demand.

According to SoSoValue data, September inflows were lower than August's $3.52 billion, but still significantly above most periods over the past year. Spot Ethereum ETFs also recorded $832.43 million in inflows in September, compared to $1.85 billion in August. This September total marks their second-largest single-month inflow since August 2025.

BTC ETF inflows continued into the first trading day of October, reaching $102.7 million. Conversely, ETH ETFs saw outflows of $55.4 million.

Dominick John, an analyst at Zeus Research, told The Block that ETF inflows indicate institutional demand has "not faded," pointing toward a more sustainable recovery.

"With the Q4 bottom seemingly established, sustained ETF inflows are also signaling improving market sentiment and may set a more bullish tone heading into the final quarter of the year," John said.

Bitcoin (BTC) rose 3.1% over the past 24 hours, trading at $86,626 as of 1:00 AM ET on Friday; Ethereum (ETH) gained 1% to $2,735, according to The Block price page.

The Crypto Fear & Greed Index stood at 69, in the greed zone. "This indicates that sentiment has strengthened but has not yet reached extreme levels," John said.

John also noted that traders will continue to monitor ETF flows to gauge whether institutional demand persists, while keeping an eye on key US economic data. "The October 8 initial jobless claims report will offer another read on the US labor market, while inflation data and Fed commentary could shift rate expectations," he added.

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