Bitcoin ETFs Attract $241M as 'Uptober' Begins

Last week saw more than $241 million flow into U.S. spot bitcoin ETFs, marking the third week in a row of net investments. That support has helped sustain the price of the leading digital asset as the period known as 'Uptober' gets underway.

According to Farside Investors data, the funds saw inflows on every trading day except Wednesday, when nearly $149 million was withdrawn by investors.

Bitcoin has risen nearly 7% in the past month and recently traded at $85,605.

The iShares Bitcoin Trust from BlackRock attracted the bulk of the inflows, taking in more than $450 million in new money.

Funds run by Fidelity and Morgan Stanley likewise saw notable trading volumes and capital inflows.

Purchases of ETF shares tend to support bitcoin’s price. The products offer investors a straightforward way to gain exposure to the cryptocurrency through their brokerage accounts.

The U.S. Treasury Department said it would more than double the size of its government debt repurchases, and bitcoin began to rally in August. That month saw the coin’s strongest performance in three years and its third-best August on record.

More recently, the digital asset has gained from the debasement trade, where investors pick assets to guard against currency depreciation. The U.S. dollar weakened in August.

The coin also performed well in September, climbing almost 6% over a 30-day stretch.

In the third quarter, bitcoin posted its strongest three-month period since 2024.

The 'Uptober' trend seems to be holding true, with the month beginning positively. Historically, October has been a strong month for bitcoin returns.

CryptoQuant, a data firm, reported last week that bitcoin had re-entered a bull market after rising above its 365-day moving average. The firm called this the “definitive technical signal” that signals the start of rallies in prior cycles.

A year ago, bitcoin reached an all-time high of $126,080 in October, then fell after a large liquidation. Most of 2026 has been spent in a bear market.