Strong Demand for U.S. Bitcoin ETFs in October Reaches Six-Month High

Record Inflows in October Drive Demand for Spot Bitcoin ETFs

October proved to be a robust month for U.S. spot Bitcoin ETFs, with over $3 billion in net inflows, marking the highest demand in six months.

Weekly Inflows Surge in October

During the past week, inflows into the 12 spot Bitcoin exchange-traded funds surpassed $1 billion, with prominent contributions coming from BlackRock’s IBIT, the largest ETF by net assets.

Earlier in the month, the funds saw a five-day streak of inflows totaling over $2.13 billion, the first time weekly inflows into Bitcoin ETFs exceeded $2 billion since March 2024.

Following this momentum, the total inflows for October crossed $3.07 billion, with the week ending on October 25 witnessing a peak of $402 million in inflows.

Bitcoin ETFs See Continuous Inflows

Weekly inflows for the last week of October started strong, leading to a seven-day inflow streak, with BlackRock’s IBIT continuing to lead the pack with $291.96 million.

Overall, the demand for Bitcoin ETFs saw a significant surge, with the 30-day momentum indicator hitting a six-month high, indicating growing interest among investors.

Retail Investors Driving Demand

The surge in demand is primarily fueled by retail investors, with large investors making up around 20% of all U.S.-traded spot Bitcoin ETFs.

With total holdings in the 12 offerings inching closer to 1 million Bitcoin, the market is on track to surpass the amount held by Bitcoin’s creator, Satoshi Nakamoto.

Market Update

As of now, Bitcoin is trading at $67,007, with a market cap of $1.32 billion, down 1.3% from previous levels.