Crypto ETFs pulled in $2.39 billion in weekly inflows, pushing 2026 net flows positive even as Bitcoin dropped 4.3% to $83,500 on a jump in Treasury yields, Hilbert Group said. Portfolio manager Jesse Marre pointed to $89,000 as the level that could open a path toward $95,000, while flagging that new SEC crypto guidance could be rewritten by a future administration.
Bitcoin fell 4.3% to $83,500 this week as U.S. ten-year Treasury yields climbed from about 4.95% to 5.20%. Yet crypto ETFs still attracted $2.39 billion in weekly inflows, reversing a year-to-date deficit that had reached $5.8 billion in July, according to Hilbert Group, a digital asset investment firm listed on Nasdaq First North.
Crypto ETF inflows erase yearly losses
The $2.39 billion intake pushed 2026 net ETF flows back into positive territory, senior portfolio manager Jesse Marre said in the firm's Sep. 28 weekly market update. Total ETF net asset value stood at about $108 billion, still below the $152 billion peak reached when Bitcoin traded at $125,000, he said.
Treasury yields stay elevated after Wednesday's selloff
Markets stayed quiet until Wednesday, when ten-year Treasury yields broke above their prior highs. Marre attributed the move to an existing upward trend, inflation concerns and doubts about the sustainability of government finances rather than a single data release. During the selloff, the S&P 500 fell 1.2% and the Nasdaq lost 1.4% alongside Bitcoin's drop. The S&P has since recovered to 7,750, though Treasury yields remain close to their highs, he said.
Bitcoin needs $89,000 to open path toward $95,000
Marre described Bitcoin's weekly consolidation between $82,400 and $87,500 as consistent with a pause after its recent rally. He put the breakout level at roughly $89,000, which could open a move toward $95,000, and placed support at $80,000, followed by $77,000 — a break below which he said would damage the bullish structure.
SEC guidance advances crypto rules without new legislation
Marre also pointed to additional SEC guidance on applying securities law to crypto tokens, which he said opened a path for lawful revenue distribution to holders through staking and buybacks. With CLARITY legislation having failed to pass, he said the SEC and CFTC were moving quickly to build parts of the regulatory framework through their existing authority.
According to Marre: "Every rule written this way is a rule a future administration can rewrite". He placed that political risk more than two years away, adding that its durability would depend on how deeply the rules become embedded before then.
Source: crypto.news
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