Bitcoin (BTC) News: ETF Inflows Coincide With Essential Software Upgrade

Bitcoin ETFs Encounter First Inflow in October

On October 4, US spot Bitcoin exchange-traded funds (ETFs) recorded their first inflow of the month, rebounding from outflows totaling $400 million in the initial three trading days. This uptick coincides with the release of a significant upgrade to Bitcoin Core, the open-source software that underpins the leading cryptocurrency.

Bitcoin ETF Inflow Details

According to SoSoValue data, Bitwise's Bitcoin ETF (BITB) led the inflows with a positive net flow of $15.3 million, followed by Fidelity's FBTC with $13.6 million. Ark 21Shares' ARKB and VanEck's HODL each saw inflows of $5.3 million. In contrast, Grayscale's GBTC reported outflows of $13.9 million. Other issuers—such as BlackRock's iShares Bitcoin Trust (IBIT) and Franklin Templeton Bitcoin ETF (EZBC)—recorded no inflows during this period. Meanwhile, IBIT remains the leading Bitcoin ETF in the market, boasting over $21 billion in cumulative net inflows.

Market Trends Following ETF Movements

This development comes following a turbulent start to October for Bitcoin. The top asset's price briefly fell below $60,000 during the week but recovered to around $62,000 amid geopolitical tensions in the Middle East. Despite the volatility, market observers remain optimistic about Bitcoin's outlook for the fourth quarter, citing strong macroeconomic support and rising institutional investments as key bullish indicators.