October has historically given bitcoin investors good returns. ETF buyers are helping the legendary month — ‘Uptober’ — get off to a good start
Investors bought over $241 million in U.S. bitcoin exchange-traded funds last week, the third consecutive week of inflows that has helped keep the leading cryptocurrency’s price up during the start of so-called “Uptober.”
Data from Farside Investors shows that money hit the popular funds every day — apart from on Wednesday, when speculators pulled out nearly $149 million from the vehicles
The price of bitcoin now is up close to 7% over a 30-day period, and was recently priced at $85,605
JUST IN: 🇺🇸 U.S. Spot Bitcoin ETFs took in $241.1 million last week, completing the third consecutive week of positive net inflows 🚀 pic.twitter.com/imYO76nqvd
Last week, BlackRock’s iShares Bitcoin Trust took in the lion’s share of investment, receiving over $450 million in fresh cash
Funds managed by Fidelity and Morgan Stanley also experienced significant trading action and inflows
Bitcoin’s price is often buoyed by investors buying shares of the U.S. ETFs. The funds give investors easy exposure to the asset via shares they can buy on their brokerage accounts
Bitcoin’s price started rallying in August after the U.S. Treasury Department said it would more than double the size of its government debt repurchases. The coin had its best run in three years and third best August ever
The coin’s price has recently benefited from the so-called debasement trade: when investors buy certain assets to hedge against currency being devalued. The dollar slid in value in August
It continued to have a good September, rising nearly 6% over a 30-day period
Bitcoin in the third quarter of this year had its best three months since 2024
And so far, the October phenomenon dubbed “Uptober” is off to a good start: the month of October has historically delivered good returns for bitcoin investors
Data firm CryptoQuant said in a September report last week that bitcoin was back in a bull market after crossing above its 365-day moving average, which the firm described as the “definitive technical signal” that has marked the start of the asset’s rally in past cycles
Bitcoin’s price touched a record of $126,080 in October last year before sliding following a massive liquidation event. It has spent most of 2026 in a bear market
