- Bitcoin ETF one-day inflows hit $366 million in late September, marking a recovery.
- Futures open interest has soared as call options take the lead.
- October could see gains as historically it’s one of Bitcoin’s best months.
Bitcoin ETFs saw early outflows in September before reversing course and peaking in the final weeks — leading to a monthly net positive of over $700 million.
That’s a decent-sized turnaround following August’s net outflow of $92 million.
Investors fled the exchange-traded funds in the first week of the month, with the largest drop occurring on September 3.
Total redemptions amounted to $288 million that day, driven by BlackRock’s iShares Bitcoin Trust.
This trend began to shift by mid-month. On September 12, total inflows hit $170 million.
The real momentum built up in the final week of September, culminating on September 26 with inflows surging to nearly $366 million — the highest one-day inflow for Bitcoin ETFs in over two months.
ETFStore President Nate Geraci highlighted these massive inflows:
“Nearly $400 million into spot bitcoin ETFs today. For context, out of 500 ETFs launched in 2024, less than 25 have taken this amount in for the entire year.”Another bullish sign
Open interest in Bitcoin Futures also ballooned in late September.
As of September 26, total Bitcoin futures open interest across all exchanges stands at nearly $36 billion according to CoinGlass data.
Open interest reflects the number of active contracts that have not yet been settled.
According to Deribit data, more traders are opting for bullish call options over bearish put options.
Today is a key date for Bitcoin futures as it is the end of the month and of the third quarter. This could lead to larger-than-usual price swings as traders adjust or close their positions.
With inflows and open interest soaring, the buzz around a potential October rally is gaining momentum. Historically, October has been one of Bitcoin’s best-performing months, averaging returns of over 27%.