Bitcoin ETFs Draw $134 Million as October Trading Opens Higher
Spot Bitcoin ETFs took in $134.4 million over the first two trading days of October, reversing a Sept. 30 outflow as soft jobs data eased rate expectations.
Spot Bitcoin exchange-traded funds attracted $134.4 million in net inflows across the first two trading days of October, according to Decrypt, recovering from a net outflow recorded on Sept. 30.
The turnaround coincided with a weaker-than-expected US jobs report, which reduced expectations that the Federal Reserve would continue raising interest rates.
Key Figures
- $134.4 million: net inflows into spot Bitcoin ETFs over the first two October trading sessions
- Sept. 30: the prior session closed with net outflows before the October rebound
- October, colloquially 'Uptober': the month began with green price action alongside the ETF inflows
ETF flows are closely tracked by market participants as one gauge of institutional demand for Bitcoin exposure, since the funds allow investors to gain price exposure through conventional brokerage accounts.
Daily flow figures can swing sharply and reflect a range of investor strategies, so a two-day total is not necessarily indicative of a longer trend.