Bitwise Expects Q4 Bitcoin ETF Inflows to Hit Record Levels
Bitcoin (BTC) exchange-traded funds (ETFs) are on track for their biggest quarterly inflows ever, supported by wider institutional access, favorable macro trends, and Bitcoin’s climb above $125,000, according to crypto asset manager Bitwise.
Bitwise had earlier predicted that 2025 ETF inflows would surpass the $36 billion record set in the first year of Bitcoin ETFs. Through September, roughly $22.5 billion had already been invested, leaving ample room for a strong Q4 finish to push totals even higher.
A major catalyst came on October 1, when Morgan Stanley (MS) approved its 16,000 advisers, managing $2 trillion in assets, to allocate to crypto, said Bitwise CIO Matt Hougan. Wells Fargo (WFC) has implemented similar measures, while UBS and Merrill Lynch may follow. Though adoption is typically gradual, adviser demand has been steadily building.
Macro conditions also support the inflows. The “debasement trade”, which favors Bitcoin and gold amid currency dilution, has gained momentum after a 44% rise in U.S. money supply since 2020, Hougan noted.
Bitcoin’s rally above $125,000 has historically fueled ETF demand. In the first four trading days of Q4 alone, $3.5 billion in net flows were recorded, bringing year-to-date totals to $25.9 billion. Bitwise says a record-breaking quarter now appears well within reach.
