Whereas Bitcoin treasury firms amassed $1.2 billion in BTC final week, analysts recommend that Bitcoin’s new all-time excessive was extra doubtless pushed by inflows into Bitcoin exchange-traded funds.
Bitcoin went on to spike coming into the weekend, hitting a brand new all-time excessive of over $125,000 on Saturday.
Bitcoin (BTC) treasury firms bought greater than 6,702 cash over the week, led by Japanese funding agency Metaplanet, which added 5,258 Bitcoin on Oct. 1.
Compared, spot Bitcoin ETFs recorded a web influx of $3.24 billion final week, practically matching their document week in November 2024.
ETF inflows behind worth spike
Vincent Liu, Chief Funding Officer at quantitative buying and selling agency Kronos Analysis, instructed Cointelegraph that it was the ETF inflows that sparked Bitcoin’s worth improve.
Nevertheless, there have been additionally different components, similar to “tight change provide, a weaker greenback, and macro uncertainty. Sturdy institutional demand is reinforcing the bullish momentum this final weekend,” he added.
Establishments have been snapping up extra Bitcoin than miners can provide this yr. On common, miners generate roughly 900 Bitcoin per day, whereas a September report from monetary providers firm River discovered that companies acquired 1,755 Bitcoin per day and ETFs purchased 1,430 Bitcoin per day on common in 2025.
Analysts from the Bitfinex crypto change predicted in August {that a} new altcoin season or rally may be sparked by new crypto ETF approvals, which would offer buyers with publicity to the cash with much less threat.
Wild week for Bitcoin ETFs
Crypto analyst and dealer Will Clemente III additionally pointed to ETF inflows as a catalyst for Bitcoin’s latest surge in an X publish on Sunday.
“Potential we get one final dip, however probably the most bullish factor about this transfer on Bitcoin is that it wasn’t pushed by treasury firms or perp degens, it was pushed by spot ETF shopping for — which is probably going macro PMs and funds viewing BTC as a rotation from commodities & small caps,” he stated.
Bloomberg Intelligence analyst Eric Balchunas additionally stated Bitcoin’s all-time excessive got here after ETFs went “wild final week with +$3.3 billion in per week, $24 billion for the yr.”
ETFs will doubtless gas extra will increase
Bitcoin ETF inflows will doubtless be a catalyst for additional will increase towards the tip of the yr.
Liu stated Bitcoin’s fourth-quarter outlook shall be formed by “institutional adoption, however shrinking provide, and macro tailwinds, with its function as a fiat debasement hedge including assist. Thinner liquidity and ETF inflows will gas rallies and volatility.”
“Future Bitcoin good points will doubtless swing on institutional adoption, regulatory readability, tightening provide as change balances hit a six-year low, and a supportive macro atmosphere with extended low rates of interest.”
Technique govt chairman and Bitcoin bull Michael Saylor additionally predicted in September that Bitcoin would begin to achieve momentum once more towards the tip of the yr, after dealing with upward strain from rising company and institutional curiosity.
Associated: Crypto treasuries ‘simple cash’ ends, however which may be good for crypto
ETFs maintain greater than 1.5 million Bitcoin value $188 billion, representing 7.2% of the full provide, based on Bitbo.
In the meantime, company Bitcoin treasuries now exceed 1.4 million cash, representing 6.6% of the full provide, and are valued at over $166 billion.
Journal: How do the world’s main religions view Bitcoin and cryptocurrency?