Key facts
- Bitcoin ETFs erased October losses with $1.07 billion in inflows over three days.
- Bitcoin ETFs are now up $460 million for October.
- Ethereum ETFs snapped a five-day outflow streak with $14.9 million in inflows.
- Bitcoin traded at $81,470, down 2.4% in 24 hours.
- Traders give Bitcoin a 20% chance of topping $87,500 this month.
U.S. spot Bitcoin exchange-traded funds (ETFs) have seen significant inflows, erasing October's losses and turning the month positive. On Wednesday, these ETFs attracted $524.8 million, extending a three-day streak of inflows that totals approximately $1.07 billion. This surge has flipped the month from a net outflow of $615 million to a net inflow of about $460 million. Monday's inflows, largely driven by BlackRock's IBIT, marked the best day for these funds since September 22. This renewed buying interest comes as J.P. Morgan Asset Management projected a 10% compound annual return for Bitcoin over the next 10 to 15 years, though they cautioned about its volatility. Meanwhile, Ethereum ETFs experienced a $14.9 million inflow on Wednesday, ending a five-day outflow streak, but remain down $1.07 billion for October. Despite the ETF activity, Bitcoin's price fell 2.4% to $81,470 on Thursday, and Ethereum dropped 2.6% to $2,393. Traders on the Myriad prediction market are not optimistic about a significant Bitcoin rally this month, assigning only a 20% chance of it exceeding $87,500.