Spot Bitcoin ETFs in the U.S. are back in the spotlight after recording a staggering $3.24 billion in net inflows last week one of the strongest weekly performances ever. The surge in investor demand has pushed Bitcoin to a new all-time high above $125,000, setting the tone for what traders fondly call “Uptober.”
Institutions Lead the Charge
According to data from SoSoValue, the 12 U.S. spot Bitcoin ETFs collectively drew in $3.24 billion from September 29 to October 3 the second-largest weekly inflow on record, just shy of the $3.38 billion peak set in November last year.
BlackRock’s iShares Bitcoin Trust (IBIT) led the rally with an impressive $1.8 billion in inflows, cementing its position as the market favorite. Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $691.9 million, while ARK 21Shares’ ARKB brought in $254.5 million and Bitwise’s BITB added another $211.9 million.
Meanwhile, the remaining ETFs including BTC, HODL, GBTC, BTCO, and EZBC collectively saw an additional $261.3 million in inflows.
The massive surge in capital highlights growing institutional confidence and a wave of renewed retail participation, as more investors seek exposure to Bitcoin through regulated and accessible products.
Ethereum ETFs Join the Party
Bitcoin wasn’t alone in the spotlight. Ethereum-based ETFs also saw a strong comeback, pulling in $1.3 billion over the same week. BlackRock’s ETHA fund led with $687 million, followed by Fidelity’s ETHF at $305 million. Grayscale and Bitwise followed suit, attracting $175 million and $83 million, respectively.
This simultaneous rise in both BTC and ETH ETF demand helped reverse recent outflow trends, restoring market optimism just in time for October historically one of crypto’s best-performing months. Over the past 12 years, Bitcoin has posted gains in 10 Octobers and in 8 of the last 12 fourth quarters.
Bitcoin Smashes to New Heights
The renewed wave of inflows fueled Bitcoin’s rally past $125,500, marking a fresh all-time high. As of writing, BTC trades around $123,753, up over 10% in the past week.
Market analysts suggest that the move isn’t just about ETF enthusiasm. Global macro pressures including rising inflation, currency devaluation, and geopolitical instability continue to drive investors toward Bitcoin as a hedge.
“Bitcoin is increasing in price due to inflation, currency devaluation, and geopolitical chaos with wars on multiple continents,” said Kadan Stadelmann, CTO of Komodo Platform. “The same reasons that have driven Bitcoin’s price all along are intensifying, propelling it toward $150,000 and beyond.”
A Bullish “Uptober” Kicks Off
With Bitcoin breaking records and institutional demand showing no signs of slowing down, this October may live up to its reputation as “Uptober” a month historically synonymous with bullish momentum in the crypto market.
