Bitcoin ETFs add $137M, pushing October back into the green

Bitcoin exchange-traded funds (ETFs) added $137 million in inflows on Wednesday, contributing to a $111 million net gain for October, according to SoSoValue data. Despite a hawkish Federal Reserve decision and weaker crypto sentiment, US-listed spot Bitcoin ETFs extended their daily inflow streak to three consecutive days. The three-day total for Bitcoin ETFs rose to approximately $424 million, bringing October’s cumulative net inflows to $111 million, even though they were in the red through Tuesday after $774 million flowed out over the previous two trading days.

The positive trend in Bitcoin ETFs coincided with the US Federal Reserve maintaining its benchmark interest rate within a range of 3.75% to 4% on Wednesday. Fed Chair Kevin Warsh cautioned that inflation remained above the central bank’s 2% target, suggesting that Bitcoin’s near-term performance might be more influenced by Treasury yields, dollar movements, and broader risk sentiment.

At the time of writing, Bitcoin was trading at $79,848, down about 1% from the previous day, while Ether (ETH) ETFs continued to experience withdrawals, leading to an additional $21 million outflow on Wednesday and October’s net outflows for Ether reaching $1.35 billion. Ether was trading at $2,310, down 1.7% over the past 24 hours.