'Uptober' Starts Green as Bitcoin ETFs Draw $134 Million

In brief

• U.S. spot Bitcoin ETFs drew $102.7 million Thursday and $31.7 million Friday, opening October with $134.4 million in net inflows, per Decrypt's tracker.
• The inflows followed a $148.7 million outflow on Sept. 30, which ended a nine-session streak.
• A soft jobs report cut October rate-hike odds, but Myriad traders still give a 93% chance Bitcoin won't hit a new high this year.

Bitcoin ETFs are living up to the "Uptober" meme, so far at least.

U.S. spot Bitcoin ETFs drew $102.7 million on Thursday and another $31.7 million on Friday, according to Decrypt's Bitcoin ETF tracker. That's $134.4 million in net inflows to start October.

The green start followed a red finish. The funds shed $148.7 million on Sept. 30, snapping a nine-session inflow streak that began Sept. 17. Even so, September was their second-best month since October 2025, with $2.65 billion in net inflows, according to SoSoValue data.

"Uptober" is crypto shorthand for October's track record as one of Bitcoin's strongest months. Over the past decade, the asset has averaged an 18% gain in October, Algoz's Stephen Wundke told Decrypt. "Traders feel there is more upside currently than there is downside," he said.

Friday's jobs report added fuel. The U.S. economy added just 29,000 jobs in September, and unemployment rose to 4.2%, according to the Bureau of Labor Statistics. After the release, CME FedWatch odds of an October rate hike fell to 14% from 70% earlier in the week. A weaker labor market eases pressure on the Fed to keep raising rates, which tends to favor risk assets like Bitcoin.