Bitcoin Rally Has 'Serious Institutional Money' Behind It, Devere Says

Green Sees Institutional Demand Supporting Bitcoin

Bitcoin’s recovery could gain durability from institutional allocations, according to comments Devere Group CEO Nigel Green issued Sept. 21. The financial advisory firm’s chief executive argued that purchases through regulated investment products signal a shift toward longer-term ownership, supporting his prediction that buyers have regained control of the market.

“The market’s momentum has flipped, and this time there’s serious institutional money behind it,” Green said, adding:

“Billions are flowing into regulated bitcoin products week after week. It’s patient capital that plans to stay, a very different animal from the leveraged speculation that fuelled past rallies.”

U.S. spot bitcoin exchange-traded funds (ETFs) attracted $433 million in net inflows on Sept. 18, following $159.5 million the previous session. However, those purchases, together with $159.9 million on Sept. 14, only narrowly offset withdrawals of $746.3 million on Sept. 15 and 16. Farside’s rounded daily figures show approximately $6.1 million in net inflows across the five trading days.

The recovery began Thursday, when bitcoin ETFs returned to positive flows after two consecutive sessions of withdrawals. Blackrock’s IBIT led that rebound, while ether and XRP funds continued losing money. The divergence showed that renewed demand for bitcoin products had not yet translated into consistent buying across the broader crypto ETF market.