Bitcoin reserve companies net bought 1.2 billion dollars last week, while ETFs net bought 3.236 billion dollars during the same period.

On October 6, despite the fact that Bitcoin reserve companies accumulated $1.2 billion worth of Bitcoin last week, analysts believe that the new highs for Bitcoin were more driven by the inflow of funds into Bitcoin exchange-traded funds (ETFs). According to data, Bitcoin reserve companies purchased over 6,702 Bitcoins last week, with Japanese investment company Metaplanet leading the way, having increased its holdings by 5,258 Bitcoins on October 1 alone. In contrast, the spot Bitcoin ETF recorded a net inflow of $3.24 billion last week, nearly matching the single-week record set in November 2024. Vincent Liu, Chief Investment Officer at quantitative trading firm Kronos Research, told Cointelegraph that the key factor driving the rise in Bitcoin prices is the inflow of funds into ETFs. However, he also added that other factors are at play, such as "tight supply at exchanges, a weakening dollar, and macroeconomic uncertainty. Strong institutional demand over the weekend further reinforced the market's bullish momentum. Since the beginning of the year, institutional purchases of Bitcoin have outpaced miner output. Miners produce about 900 Bitcoins per day on average, while financial services company River noted in its September report that enterprises purchase an average of 1,755 Bitcoins daily, with ETFs buying an average of 1,430 Bitcoins. Analysts at CEX predicted back in August that the approval of new encryption ETFs could trigger a new wave of altcoin trends or rebounds, as this allows investors to access more tokens with lower risk.