US-listed spot Bitcoin exchange-traded funds (ETFs) extended their daily inflow streak to three on Wednesday, successfully pushing October back into positive territory with just two trading sessions left to close out the month.
According to market data provided by SoSoValue, Bitcoin spot ETFs attracted $137 million in net inflows on Wednesday. This latest daily boost brought the collective three-day inflow total to roughly $424 million, which was more than enough to flip October’s performance back into the green, bringing the month’s cumulative net inflows to $111 million.
The late-month recovery comes after a bruising period for institutional crypto investment products. October’s cumulative net flows had stubbornly remained in negative territory through Tuesday, weighed down heavily by a massive wave of capital flight late in the previous week. Specifically, nearly $774 million poured out of US spot Bitcoin ETFs over the final two trading days of that week, leaving investors wondering if the broader crypto market would manage to salvage a positive monthly performance.
The sudden turnaround for Bitcoin ETFs coincided directly with a major macroeconomic development in the United States. On Wednesday, the US Federal Reserve announced its decision to keep its benchmark interest rate unchanged, maintaining a target range of 3.75% to 4%. However, the central bank’s announcement carried a hawkish tone that immediately captured the attention of financial markets. Federal Reserve Chair Kevin Warsh warned policymakers and investors alike that domestic inflation remained stubbornly above the central bank’s long-term 2% target, signaling that monetary easing may not be on the immediate horizon.
With the central bank opting to hold rates steady while maintaining a cautious stance on inflation, analysts note that the macroeconomic playbook for digital assets remains complex. Commenting on the market’s reaction, Bitget analyst Lewis Huang pointed out that with limited new directional guidance emerging from the Fed’s latest policy meeting, Bitcoin’s near-term performance will likely depend more heavily on external financial vectors. According to Huang, price action and investor demand could be dictated increasingly by Treasury yields, foreign exchange movements involving the US dollar, and broader risk sentiment across traditional global financial markets.
Despite the renewed institutional interest reflected in the multi-day ETF inflow streak, spot Bitcoin prices experienced a slight downward correction on the day. CoinGecko data showed that Bitcoin was trading at $79,848 at the time of writing, marking a modest decline of around 1% over the preceding 24-hour window. Meanwhile, broader market sentiment appeared entirely steady and unprovoked by the minor price dip. The widely followed Crypto Fear & Greed Index held firm at 51, categorized as a "Neutral" market standing, marking the second consecutive day the index has rested at this exact psychological midpoint.
While spot Bitcoin investment products managed to engineer a successful monthly recovery, the picture looked starkly different across the aisle for other major digital asset investment vehicles. Ether (ETH) ETFs continued to experience persistent capital withdrawals, completely missing out on the rebound seen in their Bitcoin counterparts. Ether spot ETFs shed another $21 million in net outflows on Wednesday alone, compounding a brutal month for the asset class. These latest withdrawals pushed October’s total net outflows for US Ether ETFs to a staggering $1.35 billion. Amid this ongoing institutional capital flight, Ether traded at $2,310, down 1.7% over the past 24 hours according to CoinGecko tracking data.
