Bitcoin gains 42.7% in Q3 as spot ETF inflows reach $6.34B

Bitcoin gained about 42.7% in the third quarter, rising from roughly $58,600 at the start of July to about $83,600 at the end of September, as U.S. spot Bitcoin exchange-traded funds drew approximately $6.34 billion in net inflows. The quarterly gain was its strongest since the final quarter of 2024, according to reported market data. The ETF inflows reversed nearly $5 billion in net withdrawals during the second quarter. Monthly inflows grew from about $172 million in July to $3.52 billion in August, before easing to $2.65 billion in September. The late-quarter demand helped support Bitcoin’s recovery after it entered July near its yearly low, although the figures do not by themselves show how investors used the funds. One market analyst cited in the reporting cautioned that some professional investors use spot Bitcoin ETFs in basis trades, pairing purchases of ETF shares with short positions in Bitcoin futures. That means fund inflows are not necessarily a direct measure of investors making an unhedged bet on higher prices. The rally also coincided with reduced futures leverage.