Bitcoin ETFs Pull In $134M as October Opens With Inflows
Spot Bitcoin ETFs took in $134.4 million over the first two trading days of October, reversing a Sept. 30 outflow as softer jobs data cooled rate expectations.
Spot Bitcoin exchange-traded funds attracted $134.4 million in net inflows across the first two trading days of October, rebounding from a net outflow on Sept. 30, according to Decrypt. The turn higher came as traders marked the start of a month that market participants often nickname "Uptober."
The flows followed a weaker US jobs report, which cooled bets that the Federal Reserve would push interest rates higher. Rate expectations have been a recurring driver of crypto sentiment, since tighter policy has generally weighed on risk assets.
What the numbers show
- $134.4 million in net inflows over the first two trading days of October
- A reversal from the net outflow recorded on Sept. 30
- Macro backdrop: a soft jobs report that reduced rate-hike expectations
Daily ETF flow data is closely watched as one gauge of institutional demand for Bitcoin exposure, but the figures can swing sharply from one session to the next and a two-day total is a limited signal on its own.