Ahmet yeniceri 
Bitcoin ETF saw strong inflows this week with “Uptober” momentum, as investor interest surged and markets took notice. BlackRock’s IBIT ETF surpassed $1 billion in its three-day net inflow streak. It reached a weekly total of $2.25 billion. Fidelity’s FBTC, Ark Invest’s ARKB, and Bitwise’s BTB funds also collected hundreds of millions of dollars in inflows. Markets clearly priced in the strength of Bitcoin ETFs with these rapid inflows. Interest from institutional investors continues to grow.
Funds Lead Weekly Gains!
Fidelity’s FBTC, Ark Invest’s ARKB, and Bitwise’s BTB funds saw record inflows. They raised $622.3 million, $219 million, and $187.9 million, respectively. There was intense interest in ETFs. The Bitcoin price surpassed $120,000 for the first time since August.
BRN Research Director Timothy Misir stated that October is historically a strong period for Bitcoin. Misir also added that a similar upward trend has been observed this year.
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It was noteworthy that the IBIT ETF alone accounted for $4.3 billion of the total $5.6 billion in ETF trading on Thursday. Bloomberg Senior ETF Analyst Eric Balchunas said that IBIT ranks among the top 10 ETFs in terms of daily volume, alongside major ETFs like SPY, QQQ, and GLD. Additionally, it has entered the top 20 ETFs in terms of assets under management at BlackRock ETF for the first time. IBIT has emerged as a clear leader in the market this week.
Institutional Interest Boosts “Uptober” Momentum!
Bitcoin‘s rise occurred despite the potential shutdown of the US government and a sharp decline in employment. Analysts attribute the strong interest in ETFs and Bitcoin’s rise to the “Uptober” momentum. Institutional investors’ shift toward the crypto market continues to grow. Since January 2024, cumulative inflows into U.S. Bitcoin ETFs have reached approximately $60 billion. “Uptober” stands out as a historically strong month for Bitcoin.