Bitcoin ETFs Bring in $241M To Kick Start ‘Uptober’
By Mathew Di Salvo
AI summary of the source article
U.S. spot bitcoin exchange-traded funds recorded over $241 million in net inflows last week, completing their third consecutive week of gains despite nearly $149 million in mid-week outflows. BlackRock’s iShares Bitcoin Trust led inflows with more than $450 million in new capital, while funds managed by Fidelity and Morgan Stanley also saw notable activity. The ETF demand has supported bitcoin's price, which recently reached $85,605 after gaining nearly 7% over 30 days. Analysts at CryptoQuant noted that bitcoin re-entered bull market territory after crossing its 365-day moving average, buoyed by broader economic trends including currency debasement hedging.
Why it matters
Consistent net inflows into spot ETFs demonstrate steady institutional and retail demand, supporting bitcoin's market liquidity via standard brokerage accounts.
Key facts
- U.S. spot bitcoin ETFs registered over $241 million in net inflows last week, completing a third consecutive week of positive flows.
- BlackRock’s iShares Bitcoin Trust led market inflows with more than $450 million in new capital.
- Data firm CryptoQuant stated that bitcoin crossed above its 365-day moving average, signaling a return to a bull market.