Bitcoin reached a new all-time high exceeding $125,000 last Saturday. The rally was fueled by institutional demand through exchange-traded funds rather than corporate buying.

U.S. spot Bitcoin ETFs recorded $3.24 billion in net inflows last week. This marks the second-highest weekly inflow since the funds began trading in January 2024.
From September 29 to October 3 (ET), Bitcoin spot ETFs saw a net weekly inflow of $3.24 billion, marking the second-highest weekly inflow in history. Ethereum spot ETFs recorded a total net weekly inflow of $1.3 billion, with all nine ETFs posting positive inflows.… pic.twitter.com/MXpPJa3cP2
— Wu Blockchain (@WuBlockchain) October 6, 2025
The previous record was set during the week ending November 22, 2024, with $3.38 billion. Last week’s performance represents a $4.14 billion swing from the prior week’s net outflows.
BlackRock’s IBIT ETF captured the largest share of inflows. The fund received $1.8 billion, bringing its total assets to $96.2 billion.
Fidelity’s FBTC, the second-largest Bitcoin ETF, took in $692 million. This represents approximately 38% of BlackRock’s weekly inflows.
Vincent Liu, chief investment officer at Kronos Research, attributed Bitcoin’s price increase to ETF inflows. He also cited tight exchange supply, a weaker dollar, and macro uncertainty as contributing factors.
Institutional buyers are acquiring Bitcoin faster than miners can produce it. Miners generate roughly 900 Bitcoin per day on average.
A September report from River found businesses acquired 1,755 Bitcoin per day in 2025. ETFs purchased an average of 1,430 Bitcoin per day during the same period.
Bitcoin treasury companies added 6,702 coins last week worth $1.2 billion. Japanese investment firm Metaplanet led corporate purchases by adding 5,258 Bitcoin on Wednesday.
Crypto analyst Will Clemente III emphasized the importance of ETF-driven buying. He noted the rally wasn’t driven by treasury companies or leveraged traders.
Possible we get one last dip, but the most bullish thing about this move on Bitcoin is that it wasn’t driven by treasury companies or perp degens, it was driven by spot ETF buying — which is likely macro PMs and funds viewing BTC as a rotation from commodities & small caps. pic.twitter.com/9O8hbly7CG
— Will (@WClementeIII) October 5, 2025
Matt Poblocki, General Manager of Binance Australia and New Zealand, said Bitcoin’s new high signals the asset’s growing maturity. He pointed to global regulatory progress and institutional inflows through U.S. spot Bitcoin ETFs.
Bitcoin ETFs now hold more than 1.5 million coins worth $188 billion. This represents 7.2% of Bitcoin’s total supply.
Corporate Bitcoin treasuries exceed 1.4 million coins. These holdings represent 6.6% of total supply and are valued at over $166 billion.
Ethereum ETFs also rebounded with $1.3 billion in inflows last week. This followed their highest weekly outflows since inception the previous week.
BlackRock’s ETHA ETF received $691.7 million in inflows. The fund accounted for approximately two-thirds of total Ethereum ETF volume last week.
Friday alone saw $12.22 billion worth of Ethereum ETF shares traded. This represented around 62% of the entire prior week’s trading volume.
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