Bitcoin ETFs Attract $528M, Ending Three-Day Inflow Streak

U.S. spot Bitcoin ETFs attracted $528 million in net inflows on Wednesday. This inflow marked the third consecutive day of positive flows, bringing the three-day total to approximately $1.07 billion. As a result, Bitcoin ETF inflows flipped October positive by roughly $460 million. BlackRock and Fidelity led the recovery in institutional demand for these funds.

Bitcoin traded at about $81,470 on Thursday, down 2.4% from the previous session. Myriad traders assign a 20% probability of Bitcoin topping $87,500 in October. Conversely, they place the odds of the asset dropping to $77,500 at 35%. The Federal Reserve is scheduled to meet on October 27-28.

Ethereum ETFs snapped a five-day outflow streak with a $14.9 million inflow on Wednesday. The funds had drained about $389 million during the preceding five-day period. Ethereum ETFs remain down about $1.07 billion for the month of October, despite cumulative net inflows of $12.8 billion since launch.

Bitcoin ETF funds had lost about $910 million over the two weeks prior to this streak. Cumulative net inflows for Bitcoin ETFs since launch stand at $58.4 billion, with total net assets at $100.8 billion. J.P. Morgan Asset Management projected a 10% compound annual return for Bitcoin over the next 10 to 15 years.