Bitcoin ETF Trading Volume Exceeds $5 Billion as Price Surpasses $120K – Is an All-Time High Ahead?

On October 1, the trading volume for Bitcoin ETFs exceeded $5 billion as the cryptocurrency surpassed $120,000, achieving a 10% weekly increase from the late September lows around $109,000.

The rally was primarily fueled by institutional investors, who contributed $676 million in net inflows on October 1. BlackRock’s iShares Bitcoin Trust accounted for $405 million, while Fidelity acquired 1,570 BTC valued at $179 million in just one day.

Today, Bitcoin has exceeded $120,500, with trading volume across all markets surpassing $50 billion.

Source: TradingView

BlackRock’s IBIT now possesses 773,000 Bitcoin, valued at around $93 billion, solidifying its status as the largest institutional custodian, holding 3.88% of the total Bitcoin supply.

Since its launch in January 2024, spot Bitcoin ETFs have gathered $58.44 billion in net inflows, with total net assets reaching $155.89 billion, which constitutes 6.66% of Bitcoin’s market capitalization.

Source: SosoValue

Vanguard Reconsiders Position as BlackRock Files Premium Income ETF

Vanguard, the second-largest asset manager globally with $11 trillion in assets, is reevaluating its position on crypto ETFs after retracting a significant blog post that dismissed Bitcoin as having “no inherent economic value.”

The firm is reportedly assessing the possibility of allowing its 50 million customers worldwide to invest in Bitcoin and Ethereum ETFs via its platform.

This potential shift comes under the leadership of new CEO Salim Ramji, who has a background at BlackRock and has expressed optimism about cryptocurrency.

Vanguard finds itself in a challenging situation as the largest shareholder of Strategy stock, mainly through funds that track the Nasdaq 100, despite its previously skeptical view on Bitcoin.

A spokesperson for Vanguard informed Bloomberg that the company “continuously evaluates our brokerage offer, investor preferences, and the evolving regulatory environment,” although they did not confirm if crypto ETFs are forthcoming.

If merely 1% of Vanguard’s 50 million customers chose to invest in Bitcoin ETFs, it would equate to 500,000 new market participants.

In the blink of an eye, 50 million Vanguard customers could soon be able to invest in Bitcoin ETFs for the first time#Cryptohttps://t.co/DLQEQMJg0t

— Cryptonews.com (@cryptonews) October 1, 2025

BlackRock Broadens Product Range With Premium Income Strategy

Furthermore, BlackRock has submitted an application for a Bitcoin Premium Income ETF, which is structured as a covered-call strategy that provides a yield on Bitcoin holdings.

Bloomberg analyst Eric Balchunas highlighted that the firm has registered the name iShares Bitcoin Premium ETF as a “33 Act spot product,” positioning it as a follow-up to its $87 billion IBIT.

The $12.5 trillion asset manager’s Bitcoin and Ethereum ETFs are generating over $260 million in annual revenue, with $218 million from Bitcoin products and $42 million from Ethereum.

Including smaller crypto assets, BlackRock’s total digital asset custody now exceeds $101 billion.

According to Farside Investors, BlackRock’s Ethereum fund saw $512 million in net capital inflows last week.

The firm reported $14.1 billion in digital asset inflows in its second-quarter earnings report, making this category one of its fastest-growing product lines, despite accounting for only 1% of total assets under management.

Technical Analysis Indicates $128K Target With Consolidation Risk

Bitcoin’s weekly chart reveals systematic consolidation zones followed by significant advances throughout 2023-2025, with the current price at $120,953 placing the cryptocurrency at the upper boundary of what analysts refer to as “Price Discovery Uptrend 3.”

Source: X/@rektcapital

Each consolidation phase has persisted for several weeks to months before culminating in breakouts.

This pattern demonstrates consistent behavior where Bitcoin establishes base-building periods within horizontal ranges before breaking into new price discovery phases.

However, decreasing percentage gains between each uptrend phase suggest a potential slowdown in momentum, with movements from $70,000 to $120,000 reflecting approximately 71% gains compared to 75% gains in the preceding phase.

The simplified price structure indicates a key break-and-retest pattern around the $110,000 level.

Source: X/Coinvo

Bitcoin seems to have broken above resistance, pulled back to retest this level as support, and is now positioned for a potential upward continuation.

Technical indicators support a possible advance toward $128,000-$135,000.

However, the extended nature of the move suggests that this would likely occur amid increased volatility and deeper pullbacks.

The critical support level for sustaining a bullish structure appears to be at $110,000-$112,000, where previous resistance is anticipated to provide support.

Failure to maintain this zone could lead to a retracement toward $103,000-$105,000 channel support, while sustained breaks above $128,000 would pave the way toward $135,000-$140,000 before testing upper channel resistance near $173,000.

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