Bitcoin reserve companies had a net purchase of $1.2 billion last week, while ETFs had a net purchase of $3.236 billion during the same period.

ChainCatcher reported that although Bitcoin reserve companies have cumulatively purchased $1.2 billion worth of Bitcoin, analysts believe that Bitcoin's record highs are mainly driven by inflows into Bitcoin exchange-traded funds (ETFs).

According to data, Bitcoin reserve companies bought more than 6,702 Bitcoins last week, led by Japanese investment company Metaplanet, which alone increased its holdings by 5,258 Bitcoins on October 1. In comparison, spot Bitcoin ETFs 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 of quantitative trading firm Kronos Research, told Cointelegraph that the key factor behind Bitcoin's price increase is the capital inflow into ETFs. However, he also added that other factors play a role, such as "tight supply on exchanges, a weakening US dollar, and macroeconomic uncertainty. Strong institutional demand over the weekend further reinforced the market's bullish momentum. So far this year, the pace at which institutions are buying Bitcoin has surpassed the output of miners. Miners produce about 900 Bitcoins per day on average, while a report from financial services company River in September noted that companies purchase an average of 1,755 Bitcoins per day, and ETFs buy an average of 1,430 Bitcoins daily. An analyst from an exchange predicted back in August that the approval of new crypto ETFs could also trigger a new round of altcoin rallies or rebounds, as this would allow investors to access more tokens with lower risk."

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