U.S. spot Bitcoin ETFs recorded $524.8 million in net inflows on Wednesday, extending a three-day streak to approximately $1.07 billion and reversing October’s earlier losses. After shedding about $615 million through the previous Friday, the funds are now up roughly $460 million for the month. Monday’s session saw $526.7 million in inflows, driven entirely by BlackRock’s IBIT, marking the best day since September 22. This rebound follows two weeks of outflows totaling about $910 million. Cumulative net inflows since launch stand at $58.4 billion, with total net assets reaching $100.8 billion.
Ethereum ETFs snapped a five-day outflow streak with a $14.9 million inflow on Wednesday but remain down approximately $1.07 billion for October. The prior five days had drained about $389 million from these funds. Cumulative net inflows for Ethereum ETFs stand at $12.8 billion.
Despite the institutional demand, prices did not rise. Bitcoin traded at about $81,470 on Thursday, down 2.4% over 24 hours but up 2% on the week, following a weekly high near $85,000. Ethereum fell 2.6% to roughly $2,393, while the total crypto market cap slipped 2.9% to $2.84 trillion. Zcash dropped 5.6% among top-10 assets. J.P. Morgan Asset Management projected a 10% compound annual return for Bitcoin over the next 10 to 15 years this week, cautioning about 55% volatility. Myriad traders assign only a 20% chance of Bitcoin topping $87,500 before October ends.
The rapid reversal of Bitcoin ETF flows highlights the volatile nature of institutional sentiment, where short-term trading dynamics can quickly offset monthly deficits without necessarily supporting price stability. The fact that significant inflows coincided with a price decline suggests that current buying pressure may be driven by rebalancing or dip-buying strategies rather than sustained bullish conviction, creating a disconnect between fund activity and asset valuation.
J.P. Morgan’s long-term forecast provides a counterweight to immediate market uncertainty, framing Bitcoin as an asset class with potential structural growth despite high volatility. However, the low probability assigned by prediction markets to near-term price targets indicates that traders remain skeptical of a breakout in October. Investors should monitor whether the recent ETF inflows translate into persistent accumulation or if they represent transient liquidity shifts ahead of the Federal Reserve’s upcoming meeting.
