Last week, U.S. spot Bitcoin ETFs saw over $3 billion in net inflows, catapulting BTC to a new all-time high and setting an optimistic tone for Uptober this year.
Summary
- BTC ETFs experienced $3.24 billion in inflows in the last week.
- Leading the inflows was BlackRock’s IBIT, attracting over $1.8 billion.
- Bitcoin reached a new all-time high, surpassing $125k.
Data from SoSoValue shows that the 12 U.S. spot Bitcoin ETFs pulled in $3.24 billion in net inflows last week, marking their second-largest weekly total ever, just behind the $3.38 billion peak from November last year.
During the week of Sep. 29 to Oct. 3, BlackRock’s IBIT attracted the most significant share of inflows, drawing in over $1.8 billion. Fidelity’s FBTC followed with $691.9 million in inflows.
Other notable inflows included ARK 21Shares’ ARKB with $254.5 million and Bitwise’s BITB with $211.9 million. The remaining Bitcoin ETFs, including BTC, HODL, GBTC, BTCO, and EZBC, collectively saw $261.3 million in inflows.
This surge in inflows into these investment vehicles over the week reflects increasing institutional confidence and renewed retail interest in Bitcoin through regulated avenues.
Moreover, Ethereum ETFs also resumed weekly inflows, totaling $1.3 billion over the same period. BlackRock’s ETHA fund experienced the highest inflows at $687 million, followed by Fidelity at $305 million. Grayscale attracted $175 million, while Bitwise brought in $83 million.
The revived demand for both BTC and ETH ETFs helped conclude a brief outflow period and foster a positive atmosphere for October, a month often dubbed “Uptober” due to its history of strong crypto performance. Historically, BTC has seen gains in 10 of the past 12 Octobers and 8 of the last 12 fourth quarters.
Bitcoin price reaches a new all-time high
The recent uptick in BTC inflows propelled Bitcoin (BTC) to a new all-time high above $125,500, despite the ongoing U.S. government shutdown and the weakening performance of the U.S. dollar. Currently, the leading cryptocurrency is trading at $123,753, reflecting a 10.6% increase over the past week.
“Bitcoin’s price is rising due to inflation, currency devaluation, and geopolitical turmoil stemming from conflicts across several continents. The same factors that have historically driven Bitcoin’s price are escalating, pushing it towards $150,000 and beyond,” stated Kadan Stadelmann, CTO of Komodo Platform.
Disclosure: This article is not intended as investment advice. The content and materials presented here are for educational purposes only.
