Bitcoin ETFs Add $137 Million as October Inflows Turn Positive
Key Takeaways
- •US spot Bitcoin ETFs attracted $137 million on Wednesday, marking their third straight session of net inflows and bringing the three-day total to about $424 million.
- •October's cumulative net inflows for the funds turned positive at $111 million, reversing the roughly $774 million that had exited over the final two trading days of the prior week.
- •The Federal Reserve kept its benchmark interest rate unchanged at 3.75%-4%, and Chair Kevin Warsh cautioned that inflation remains above the central bank's 2% target.
- •Bitcoin traded near $79,848, down roughly 1% in 24 hours, while the Crypto Fear & Greed Index held at 51, or "Neutral," for a second consecutive day.
- •Ether ETFs saw an additional $21 million in withdrawals on Wednesday, pushing October's net outflows to $1.35 billion in contrast to the recovery in Bitcoin-focused products.
US spot Bitcoin exchange-traded funds (ETFs) drew $137 million on Wednesday, extending their daily inflow streak to three sessions and pushing October's net flows back into positive territory with two trading sessions left in the month.
The latest tally brought the funds' inflows over three days to roughly $424 million and lifted October's cumulative net inflows to $111 million, according to SoSoValue data. The monthly figure turned positive despite a hawkish Federal Reserve decision and softer crypto sentiment. October's cumulative net flows had remained in the red through Tuesday, after nearly $774 million flowed out over the final two trading days of the previous week. US spot Bitcoin ETFs have become a closely watched gauge of traditional-finance participation in the asset, since they offer investors exposure to Bitcoin through standard brokerage accounts without requiring direct custody of the tokens.
Fed holds rates steady
The Bitcoin ETF rebound coincided with the US Federal Reserve's decision to keep its benchmark interest rate unchanged at a target range of 3.75% to 4% on Wednesday. Fed Chair Kevin Warsh warned that inflation remains above the central bank's 2% target. Rate decisions help set the liquidity conditions under which risk assets such as Bitcoin trade.
"With limited new direction from the Fed, Bitcoin's near-term performance may depend more heavily on Treasury yields, dollar movements and broader risk sentiment," Bitget analyst Lewis Huang said.
Market picture
Bitcoin (BTC) traded at $79,848 at the time of writing, down around 1% over the past 24 hours, according to CoinGecko. Market sentiment was unchanged, with the Crypto Fear & Greed Index holding at 51, or "Neutral," for a second consecutive day. The index runs from 0 (extreme fear) to 100 (extreme greed), placing the current reading almost exactly at the midpoint.
Ether (ETH) ETFs continued to see withdrawals, shedding another $21 million on Wednesday and bringing October's net outflows to $1.35 billion, per SoSoValue data. The continued outflows stand in contrast to the recovery in Bitcoin-focused products. Ether traded at $2,310, down 1.7% over the past 24 hours.
