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Crypto

Bitcoin spot ETFs extend inflow streak to 9 sessions, September tally up more than $3 billion

Bitcoin spot exchange-traded funds posted net inflows for a ninth straight trading session, matching an August streak but with a larger total. Net inflows on Sept. 29 were $66.19 million, bringing the nine-session tally from Sept. 17 to 29 to about $3.08 billion. Daily inflows fell from $999 million on Sept. 21. Bitcoin traded around $84,400 on Sept. 30, below September’s high of $87,350.

Crypto

XRP rallies for third straight month on ETF hopes

XRP is set to post its third straight monthly gain, unsettling a bearish market trend. After falling 22.1 percent in June, it rose 2.11 percent in July and 30 percent in August, and was up about 8.6 percent in September, trading around $1.49. A revised 424B3 prospectus for a U.S. spot XRP ETF was filed with the SEC, naming Coinbase Custody as custodian and setting a 0.34 percent fee.

Crypto

Bitcoin spot ETF inflows surge, but calls on institutional demand return require caution

Money is flowing again into bitcoin spot exchange-traded funds, but analysts say it is difficult to conclude that institutions are returning in force. CoinShares said ETF inflows include both expectations of price gains and arbitrage demand, making it hard to separate institutional and retail money. It said BlackRock\'s iShares Bitcoin Trust ETF, IBIT, has been used in basis trades. Bitcoin products led inflows in September, followed by ethereum and zcash, while attention also shifted to blockchain-related equities.