3 min read
Bitcoin is grinding higher, and the ETF buyers keep showing up.
U.S. spot Bitcoin ETFs took in $66.19 million on Tuesday, their ninth straight session of net inflows, according to Decrypt’s Bitcoin ETF tracker. Bitcoin changed hands near $84,400 on Wednesday, up roughly 1% on the day, recovering Monday’s losses.
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The run began on Sept. 17 and has pulled in about $3.08 billion, based on Decrypt data. That edges out August's nine-day streak, which ran from Aug. 17 to Aug. 27 and totaled roughly $3.04 billion.
So the streaks tie on length. This one wins on dollars, by about $33 million. Hardly a landslide, but notable nonetheless, considering the August rally is widely considered to have pulled Bitcoin out of the bear market.
Bitcoin ETF net flows. Image: Decrypt
Bitcoin ETFs allow investors to gain exposure to the asset without buying BTC directly from a crypto exchange or holding it in a wallet. ETFs track the price and trade like stocks on brokerage apps. They’ve been widely popular since first launching two and a half years ago, and market observers look to their flows—both in and out—as a reliable sentiment indicator.
And that sentiment has shifted quite dramatically within recent weeks.
On Sept. 16, the Federal Reserve raised rates by 25 basis points to 3.75%–4%, its first hike since 2023. Traders had put the odds at nearly 93% beforehand. Rising interest rates spook investors in risk assets, such as Bitcoin, as “cheap money” becomes more scarce.
Bitcoin slid to about $75,000 that week, and the ETFs had just bled roughly $746 million over two days. Then flows flipped on Sept. 17 with $159.5 million, and Bitcoin was back above $80,000 within two days.
The money then arrived fast. Inflows hit $999 million on Sept. 21, and the week ending Sept. 25 drew $2.4 billion, the biggest weekly haul since October 2025. That pushed the funds back into positive territory for 2026.
The macro backdrop hasn't gotten easier. Bitcoin's summer rebound traces to Aug. 19, when the Treasury said it would double its longer-dated bond buybacks to at least $4 billion per operation. Bitcoin reached $69,000 that day for the first time in two months.
It is now about a third below its October 2025 record of $126,296.
The current run still trails the 13 straight days from June 2025. Matching that would take inflows through Monday, Oct. 5.
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