Bitcoin ETFs Surge to $102M Inflows Amid Bullish Market Sentiment
Bitcoin ETFs saw significant inflows at the start of October, despite some funds recording outflows earlier in the month. According to Onchain Lens, five Bitcoin ETF funds recorded a combined $24 million in outflows on October 1st.
However, three other prominent funds - BlackRock's IBIT, Grayscale's GBTC, and Morgan Stanley's MSBT - saw strong inflows of $195 million, $14 million, and $7 million respectively. This resulted in a net daily inflow of $102 million for the ETFs.
Exchange activity is echoing this shift, with Exchange Netflow holding positive since September 30th. Supply outflows from exchanges have also recovered as ETFs resumed accumulating again.