Provisional figures come from days that have closed but whose inputs, such as the quoted price or a company's latest filing, can still be revised; the linked chart always shows the current value.
US spot ETFs
The US spot bitcoin ETFs whose daily holdings files we read took in a net 25,254 BTC in September, over the 19 trading days in our data. Together they held 850,334 BTC on 30 Sep; the funds we read all month went from 828,970 BTC to 850,334 BTC (+2.6%).
The biggest day was 21 Sep, with +7,764 BTC; the heaviest outflow came on 16 Sep, at −3,016 BTC; by fund, IBIT took in 21,760 BTC, ARKB took in 3,751 BTC and HODL gave up 257 BTC.
The US spot ether ETFs whose daily holdings files we read took in a net 243,680 ETH in September, over the 19 trading days in our data. Together they held 4.18M ETH on 30 Sep; the funds we read all month went from 3.92M ETH to 4.18M ETH (+6.5%).
The biggest day was 11 Sep, with +67,215 ETH; the heaviest outflow came on 16 Sep, at −64,414 ETH; by fund, ETHA took in 180,765 ETH, ETHB took in 61,204 ETH and ETHV gave up 1,834 ETH.
- Bitcoin ETF net flow19 trading days, funds we read daily
- +25,254 BTC
- Bitcoin ETF holdings30 Sep
- 850,334 BTC
- Ether ETF net flow19 trading days, funds we read daily
- +243,680 ETH
- Ether ETF holdings30 Sep
- 4.18M ETH
Treasury companies
ProvisionalCompanies that file with the US SEC cut their bitcoin by a net 734 BTC in September, by the holdings they reported, and ended the month with 1.18M BTC. With the ETFs we read, funds and companies absorbed 24,520 BTC, 1.8 times what was mined.
Companies that file with the US SEC added a net 102,570 ETH in September, by the holdings they reported, and ended the month with 7.29M ETH.
How the buying is paid for: over the four quarters they had reported by the end of September, bitcoin treasury companies raised $28.5B, $18.7B from common stock and $9.83B from preferred stock.
- Bitcoin minedour own node
- 13,788 BTC
- Company bitcoin holdingsSEC filers, as reported
- 1.18M BTC−734 BTC
- Company ether holdingsSEC filers, as reported
- 7.29M ETH+102,570 ETH
- Raised by bitcoin treasury companieslast four reported quarters
- $28.5B
CME futures positioning
On CME bitcoin futures, in the last CFTC report dated in September (29 Sep), asset managers were net long 18,069 BTC, from net long 14,776 BTC on 25 Aug; leveraged funds were net short 35,720 BTC, from net short 40,912 BTC on 25 Aug; dealers were net long 13,500 BTC, from net long 17,862 BTC on 25 Aug.
On CME ether futures, in the last CFTC report dated in September (29 Sep), asset managers were net short 60,051 ETH, from net short 110,379 ETH on 25 Aug; leveraged funds were net short 420,197 ETH, from net short 431,913 ETH on 25 Aug; dealers were net long 495,254 ETH, from net long 562,294 ETH on 25 Aug.
The CFTC publishes these positions each Friday for the Tuesday before. Asset managers are funds that mostly hold futures alongside other assets; leveraged funds include hedge funds running basis trades, which pair short futures with long ETF or spot positions.
- CME bitcoin, asset managers net
- +18,069 BTC+3,294 BTC
- CME bitcoin, leveraged funds net
- −35,720 BTC+5,192 BTC
- CME bitcoin, dealers net
- +13,500 BTC−4,362 BTC
- CME ether, asset managers net
- −60,051 ETH+50,328 ETH
- CME ether, leveraged funds net
- −420,197 ETH+11,716 ETH
- CME ether, dealers net
- +495,254 ETH−67,039 ETH
Prices
ProvisionalBitcoin closed September at $83,565, up 6.4% on the month; Ether closed September at $2,685, up 8.8% on the month.
- Bitcoin month close
- $83,565+6.4%
- Ether month close
- $2,685+8.8%
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How this report is made
CryptoKeyhole Monthly is written automatically after each month closes, from the charts CryptoKeyhole publishes: the US spot ETF issuers' own daily holdings files, the filings of companies that report to the US SEC, the CFTC's weekly positioning reports, and our own Bitcoin and Ethereum nodes and market data. No one edits the figures, and each sentence only restates them.
A month runs from its first day to its last, UTC. ETF flows are the sum of the funds' daily flows on the month's US trading days, for the funds whose issuers' daily files we read; a fund that joins our coverage counts from that day. Company holdings change in steps when filings arrive, so a month counts the reports dated in it. Futures positions compare the last CFTC report dated in the month with the last of the month before. Each linked chart explains its source and calculation.
The sentences describe the month's data and make no forecasts.