Bitcoin ETFs Kick Off an Explosive "Uptober" With $3.24B — Second-Largest Weekly Inflow in History
October — playfully dubbed "Uptober" by the crypto community — got off to a roaring start as U.S. spot Bitcoin ETFs recorded net inflows exceeding $3.24 billion, according to data from SoSoValue. This marks the second-largest weekly inflow since these ETFs launched, trailing only the record $3.38 billion set in November 2024. Following the prior week's net outflow of $902 million, this sharp reversal signals a clear shift in investor sentiment. Analysts attribute the turnaround primarily to
October — playfully dubbed "Uptober" by the crypto community — got off to a roaring start as U.S. spot Bitcoin ETFs recorded net inflows exceeding $3.24 billion, according to data from SoSoValue. This marks the second-largest weekly inflow since these ETFs launched, trailing only the record $3.38 billion set in November 2024.
Following the prior week's net outflow of $902 million, this sharp reversal signals a clear shift in investor sentiment. Analysts attribute the turnaround primarily to expectations that the U.S. Federal Reserve (Fed) will soon cut interest rates, paving the way for capital to rotate back into risk assets like Bitcoin.
According to Iliya Kalchev, an analyst at digital asset platform Nexo, ETF flows are "accelerating" rapidly, while selling pressure from long-term holders is easing. "At the current pace, Q4 ETF inflows could absorb more than 100,000 BTC from circulation — more than double the amount of newly issued Bitcoin," Kalchev noted.
He added: "ETF flows are becoming the market's clearest sentiment gauge, signaling that Bitcoin is building a solid price base near key technical support zones."
The ETF surge also pushed Bitcoin (BTC) above $123,000 by the end of the week, its highest level since mid-August. According to Charles Edwards, founder of Capriole Investments, if this trend holds, BTC could push toward $150,000 before the end of 2025.
October has historically been one of Bitcoin's best-performing months. According to CoinGlass, BTC's average return in October sits at around +20%, second only to November (+46%). With the combination of strong ETF inflows, a loosening monetary policy backdrop, and favorable seasonal tailwinds, many experts believe this year's "Uptober" could mark the beginning of a new bull cycle for Bitcoin and the broader crypto market.