Bitcoin ETFs Erase October Losses With $1 Billion in Three Days

In brief

• U.S. spot Bitcoin ETFs took in $524.8 million on Wednesday, bringing a three-day inflow streak to about $1.07 billion and flipping October positive by roughly $460 million.
• Ethereum ETFs snapped a five-day outflow streak with a $14.9 million inflow but remain down about $1.07 billion for the month.
• Bitcoin fell 2.4% to about $81,470, and Myriad traders give it only a 20% chance of topping $87,500 in October.

Bitcoin ETF buyers have erased October’s losses in three trading days.

U.S. spot Bitcoin ETFs took in $524.8 million on Wednesday, according to Decrypt’s ETF tracker, stretching an inflow streak that began Monday to three sessions and roughly $1.07 billion.

That’s enough to flip the month positive. After shedding about $615 million through last Friday, the funds are now up roughly $460 million for October.

Monday’s $526.7 million haul, the funds’ best day since Sept. 22, came entirely from BlackRock’s IBIT. The rebound follows two weeks in which the funds lost about $910 million. Cumulative net inflows since launch stand at $58.4 billion, with total net assets at $100.8 billion.

The return of buyers coincides with a fresh vote of long-term confidence from Wall Street. J.P. Morgan Asset Management this week projected a 10% compound annual return for Bitcoin over the next 10 to 15 years in its first long-term forecast for the asset, while cautioning about 55% volatility.