Based on data from Woofun AI, U.S. spot Bitcoin ETF (IBIT.US) recorded a net inflow of $2.65 billion in September, a figure that strongly confirms the market assessment that institutional demand has not faded.
Although the inflow scale retreated from the previous month, its status as the second-largest single-month inflow since October 2025 establishes the fundamental support of sustained capital supply. A horizontal comparison of fund flows reveals structural differences. According to data compiled by Woofun AI, while September's Bitcoin ETF inflow was lower than August's $3.52 billion, it remained significantly above most periods over the past year; spot Ethereum ETF (ETHA.US) recorded an inflow of $832.43 million during the same period, falling short of August's $1.85 billion but still marking the second-largest single-month inflow since August 2025.
Entering the first trading day of October, the divergence intensified: Bitcoin ETF continued its inflow trend with $102.7 million, while Ethereum ETF saw a net outflow of $55.4 million. Zeus Research analyst Dominick John pointed out to The Block that sustained inflows indicate a more sustainable recovery, and as the fourth-quarter bottom is established, signals of improving market sentiment are clear.
On the price front, BTC rose 3.1% over the past 24 hours, trading at $86,626 as of 1:00 a.m. Eastern Time on Friday; ETH gained 1% to $2,735. The Crypto Fear and Greed Index climbed to 69 in the greed zone, indicating strengthening sentiment but not yet extreme, with traders closely watching ETF data to verify the sustainability of institutional demand.
Future trends will depend on the realization of key macroeconomic milestones. The October 8 initial jobless claims report will once again test the resilience of the U.S. labor market, while subsequent inflation data and Federal Reserve statements could reshape interest rate expectations. These variables will jointly determine whether institutional capital can maintain a bullish stance through year-end, and the market is awaiting more fundamental signals to confirm the solidity of the recovery trend.