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3h ago

Bitcoin Tops $120,000 as U.S. Spot ETFs Pull In $2.2 Billion for the Week

Heavy institutional buying through the funds underscores how ETF flows now steer Bitcoin’s price.

Institutional demand surges as bitcoin and ether etfs see over $900 million inflows

Overview

  • On October 2, U.S. spot funds added 5,290 BTC worth about $627 million, with BlackRock’s IBIT purchasing 3,930 BTC valued near $466.5 million.
  • October 1 registered roughly $5 billion in ETF trading volume alongside about $676 million in net inflows, including $405 million into IBIT.
  • Fidelity was reported to have bought approximately 1,570 BTC in a single day, an acquisition valued near $179 million.
  • Market trackers note a slowdown in retail selling and an Accumulation Trend Score of 0.62, the highest since August.
  • Vanguard is reportedly evaluating whether to allow its 50 million clients access to Bitcoin and Ethereum ETFs.