Crypto markets are seeing massive inflows: The largest crypto ETF, IBIT, has attracted +$3.7 billion in inflows so far this quarter, putting it on track for its largest quarterly intake since Q3 2025. So far in September, IBIT has posted +$459.8 million in inflows, following +$3.0 billion in August, its largest monthly inflow since October 2025. As a result, the fund’s assets under management (AUM) are up to $62.6 billion, near their highest level since mid-May. Since the start of July, IBIT’s AUM has risen +$19.6 billion, or +46%. The rotation back into crypto is accelerating.(The Kobeissi Letter)