US-listed spot Bitcoin exchange-traded funds (ETFs) kicked off the extremely bullish month of October with a bang after recording the second-best weekly inflows since their launch in January 2024.
The funds regulated by the US Securities and Alternate Fee (SEC), providing retail and institutional buyers publicity to BTC’s value efficiency with out requiring them to carry the digital asset instantly, recorded a cumulative web constructive influx of $3.2 billion in the course of the first buying and selling week of “Uptober” – a time period utilized by the crypto neighborhood to explain the traditionally constructive efficiency of bitcoin and different digital property in October.
Bitcoin Spot ETFs Document Second-Greatest Week with $3.2 Billion Influx, as BTC Reclaims $120,000
In response to knowledge from SoSoValue, this determine practically matched the ETFs’ record-setting influx determine of $3.38 billion within the week ending November 22, 2024. It additionally marks a pointy rebound from the earlier week’s $902 million in outflows from the 12 funds buying and selling on the Nasdaq, NYSE, and CBOE exchanges.
Analysts attributed this turnaround to rising expectations of the U.S. Federal Reserve additional slashing its headline rate of interest on the greenback, which improved sentiment for danger property like crypto and equities, and the continuing U.S. authorities shutdown, which occurred after Republican and Democrat lawmakers did not agree on a finances invoice to fund the federal authorities’s operations past September 30, 2025. These elements coincided with bitcoin’s value rising again above $120,000 for the primary time since mid-August because the “Uptober” narrative positive factors momentum.
Iliya Kalchev, dispatch analyst at digital asset platform Nexo, mentioned the elevated odds of a charge minimize by the Fed have triggered a sentiment shift that has attracted renewed investor demand for Bitcoin ETFs, with four-week inflows into the funds nearing $4 billion. He famous that at this charge, cumulative flows throughout This autumn 2025 may take away over 100,000 BTC, price $12.22 billion at present charges, from circulation. This determine is greater than double the anticipated new issuance.
Kalchev additionally added that whereas ETFs are absorbing the bitcoin provide, long-term holder distribution is easing, serving to the world’s largest cryptocurrency by market capitalization construct a “stronger base” close to key technical assist ranges. Continued inflows into spot Bitcoin ETFs might present important tailwinds for BTC in October, which is considered its second-best month by way of common historic returns, therefore the identify “Uptober”.
ETFs Function the “Clearest Sentiment Barometer” for Bitcoin’s Worth
This week’s $3.2 billion influx noticed bitcoin’s value hit $123,996, a stage final seen six weeks in the past on August 14. When markets closed on Friday, BlackRock’s Nasdaq-listed iShares Bitcoin Belief ETF (IBIT) attracted $791.55 million, adopted by Constancy Investments’ FBTC with $69.58 million, and Ark & 21Shares’ ARKB with $35.48 million, making up the highest three.
Grayscale’s Bitcoin Belief ETF (GBTC) and Bitcoin Mini Belief ETF (GBTC), Ark Make investments’s ARKB, Bitwise’s BITB, and VanEck’s HODL added a mixed $105.44 million to the whole.
Cumulative inflows because the bitcoin ETFs started buying and selling on Wall Road in January 2024 now stand at $60.05 billion, whereas the whole web property held by the funds are price $164.50 billion, representing 6.74% of Bitcoin’s $2.43 trillion market cap.
Klachev identified that the ETFs now function the “clearest” sentiment barometer for the crypto market. He additionally famous that October is exhibiting indicators of an early This autumn breakout that will probably be powered by ETF inflows, seasonal energy, and dovish macro circumstances.
Traders Trying Ahead to Key Occasions Subsequent Week to Assess Bitcoin’s “Uptober” Efficiency
Nonetheless, Bitcoin and the broader market’s momentum will rely on a number of key occasions scheduled subsequent week, beginning with the Federal Reserve Chair Jerome Powell’s upcoming speech and the discharge of the minutes from the Federal Open Market Committee (FOMC) assembly. Traders are additionally wanting ahead to the U.S. jobs report, which has been delayed as a result of authorities shutdown. Its publication date depends upon the size of the shutdown.
In the meantime, there’s rising confidence that bitcoin will carry out strongly in October. In response to knowledge from CoinGlass, BTC averaged month-to-month returns of round 20% in October, 46% in November, and round 4% in December, reflecting robust returns in the course of the closing quarter of the 12 months.
On the time of writing, Bitcoin (BTC) is buying and selling at $122,126, up 1.44% within the final 24 hours.
