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 Sees First Inflow in October

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.

Read more: How To Trade a Bitcoin ETF: A Step-by-Step Approach

This development comes after 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. The analysts cite the top asset’s strong macroeconomic support and rising institutional investments a

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Author: Oluwapelumi Adejumo