Bitcoin ETFs Boost ‘Uptober’ with Record Week of Inflows
Bitcoin ETFs have started October on a high note, showcasing the second highest week of inflows in their history with $3.24 billion. This surge is seen as a positive indicator for investors amid growing optimism about the market.
US-listed spot Bitcoin ETFs have quickly become a reliable metric of market sentiment, and their recent inflows approach the record of $3.38 billion recorded in November 2024.
The significant inflows are a sharp turnaround from last week’s $902 million outflow, driven by increasing expectations of a US interest rate cut, fostering a positive atmosphere for riskier assets.
Iliya Kalchev, a dispatch analyst at Nexo, noted, “This uptick in ETF investments suggests we could see over 100,000 BTC withdrawn from circulation by the end of Q4, more than double the new issuance.”
Uptober Indicates New Highs for Bitcoin
As October unfolds, typically a strong month for Bitcoin, the heightened level of positive sentiment suggests a potential breakout. Kalchev stated, “Uptober is indicating clear signs of an early-Q4 rally in the crypto market.”
However, Bitcoin’s subsequent momentum will be closely tied to several pivotal events upcoming next week, particularly announcements from Jerome Powell, the Chair of the Federal Reserve, regarding monetary policy. Investors are also awaiting the release of the US jobs report, which has been delayed due to the ongoing government shutdown.
US spot Bitcoin ETF inflows chart
US spot Bitcoin ETFs, historical chart, weekly. Source: SoSoValue
This week’s inflow propelled Bitcoin’s price past $123,996, reaching heights not observed since mid-August 2025. Given these trends, some analysts believe Bitcoin could swiftly approach or even exceed its previous all-time high of $150,000 before the year comes to a close.
