Spot ETFs for $BTC closed the gap of 5,8$ bln over the year. In July, YTD was −5,8$ bln. Now it’s almost +800$ mln — the account is in the green again.
Numbers from SoSoValue / CoinDesk, Sep 25. Bottom: July 13 at −5,8$ bln net. Now ~+800$ mln YTD. Since August, they poured in ~4$ bln (after Bessent and liquidity work). Six trading days in a row: +2,84$ bln — more than February 2024 (2,35$ bln), but weaker than November 2024 (4,73$ bln). For scale: all of 2024 gave 35,2$ bln, 2025 — 21,4$ bln. $BTC is around 83 500$ after a quarterly +44%.
My take: the daily post was about the breadth of one day. Today’s story is about repairing the annual balance. 800$ mln YTD against 35$ bln in 2024 — the impulse is alive, but it’s not yet “a new 2024.” Upside: ETF inflows (2,84$ bln / 6 days) are already more than the recent realized gains of holders (~2,4$ bln) — institutions are still overtaking the profit-taking.
Question: 800$ mln YTD — the start of the cycle or just a rebound after the July trough?
$BTC #Bitcoin #ETF
Numbers from SoSoValue / CoinDesk, Sep 25. Bottom: July 13 at −5,8$ bln net. Now ~+800$ mln YTD. Since August, they poured in ~4$ bln (after Bessent and liquidity work). Six trading days in a row: +2,84$ bln — more than February 2024 (2,35$ bln), but weaker than November 2024 (4,73$ bln). For scale: all of 2024 gave 35,2$ bln, 2025 — 21,4$ bln. $BTC is around 83 500$ after a quarterly +44%.
My take: the daily post was about the breadth of one day. Today’s story is about repairing the annual balance. 800$ mln YTD against 35$ bln in 2024 — the impulse is alive, but it’s not yet “a new 2024.” Upside: ETF inflows (2,84$ bln / 6 days) are already more than the recent realized gains of holders (~2,4$ bln) — institutions are still overtaking the profit-taking.
Question: 800$ mln YTD — the start of the cycle or just a rebound after the July trough?
$BTC #Bitcoin #ETF