US spot Bitcoin exchange-traded funds (ETFs) sustained their impressive “Uptober” performance with $2.71 billion in weekly inflows, indicating robust institutional interest.
According to data from SoSoValue, total assets managed by Bitcoin ETFs reached $158.96 billion as of Friday, accounting for nearly 7% of Bitcoin’s overall market cap.
“Capital continues to pour into BTC as allocators reaffirm their belief in digital gold. Liquidity is increasing as market momentum develops,” stated Vincent Liu, chief investment officer at quantitative trading firm Kronos Research, to Cointelegraph.
The peak day for spot Bitcoin ETFs this week was Monday, with funds achieving a remarkable $1.21 billion in net inflows, marking the second-largest single-day inflow since the inception of these products. Additionally, the funds attracted strong inflows of $875.61 million on Tuesday.
Related: DeFi surges as $11B Bitcoin whale fuels ‘Uptober’ optimism: Finance Redefined
Bitcoin ETFs experience $4.5 million outflow
On Friday, Bitcoin ETFs reported a $4.5 million net outflow amid market concerns following President Donald Trump’s announcement of a 100% tariff on imports from China.
BlackRock’s IBIT topped the market with $74.2 million in daily inflows and $65.26 billion in cumulative totals. In contrast, Fidelity’s FBTC and Grayscale’s GBTC experienced outflows of $10.18 million and $19.21 million, respectively.
“Trump’s tariff threat appears more like a negotiating tactic than a shift in policy, typical pressure maneuver,” Liu remarked. “Markets may react in the short term, but savvy investors understand the dynamics: macro distractions, belief intact,” he added.
Related: Understanding Ether ETF inflows: Implications for traders
“Uptober” ignites ETF frenzy with 31 filings
In the last two months, 31 crypto ETF applications have been filed with the US Securities and Exchange Commission (SEC), 21 of which were submitted in just the first eight days of October.
Analysts view this as a potential opening of the “floodgates” for crypto ETFs. Bloomberg’s James Seyffart noted that nearly 100 crypto-related products were awaiting SEC decisions as of late August.
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