Spot Bitcoin ETFs, or exchange-traded funds, have ended a two-week outflow streak with over $403.8 million in weekly inflows. Analysts predict that increased institutional interest this year will help Bitcoin overcome the traditionally bearish trend seen in September.

Data shows that spot Bitcoin ETFs saw $263.07 million in inflows on September 13, marking the largest single-day inflow since July 22. Major players like Fidelity, ARK Invest, and 21Shares accounted for over half of the day’s activity.

Here are the details:

  • Fidelity’s FBTC: $102.1 million
  • ARK Invest and 21Shares’ ARKB: $99.3 million
  • Bitwise BITB: $43.1 million
  • Franklin Templeton EZBC: $5.2 million
  • Grayscale’s GBTC: $6.7 million
  • VanEck’s HODL: $5.1 million
  • Valkyrie’s BRRR: $1.7 million

Meanwhile, other ETFs like BlackRock’s IBIT, Invesco’s BTCO, WisdomTree’s BTCW, and Grayscale’s Bitcoin mini trust saw no inflows.

The resurgence in Bitcoin ETFs coincides with Bitcoin recovering to $60,000 levels, reaching an intraday high of $60,655 and a low of $57,668. At the time of writing, Bitcoin is trading 11% higher than its weekly low of $53,860 on September 8.

Historically, September has been a challenging month for Bitcoin, with an average monthly loss of 4.69% over the past 11 years. However, analyst Rajat Soni suggests that the rising institutional interest, driven by the approval of spot Bitcoin ETFs, could shift this trend.

Soni pointed out that BTC has been consolidating above the $50,000 mark over the past six months. The last time Bitcoin settled above this level was in 2021, a period dominated by retail investors who often contribute to market volatility.

This time, Soni believes the presence of institutional investors could provide a more stable foundation, reducing the likelihood of Bitcoin dropping below this critical level. He added that investors might regret selling now, as they could end up paying a much higher price to buy back later, given institutions’ readiness to purchase available coins.

Institutional interest isn’t limited to spot ETFs; it extends to Bitcoin mining stocks as well. Analysts at H.C. Wainwright have noted that the approval of spot Bitcoin ETFs, combined with increasing demand for AI-driven power infrastructure, has spurred investor interest in Bitcoin mining equities.

Industry leaders are optimistic, with bullish price targets for Bitcoin. Michaël van de Poppe suggests BTC could reach between $300,000 and $600,000 in this market cycle.

At the time of writing, Bitcoin is hovering above $59,650, up 9.7% over the past week.

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