Bitcoin ETFs return nearly $400 million in inflows
On October 4, US spot Bitcoin exchange-traded funds (ETFs) recorded their first inflows of the month, rebounding from $400 million in outflows in the first three trading days.
This move coincides with the release of a significant update to Bitcoin Core, the open source software that underpins the leading cryptocurrency.
Bitcoin ETF sees first earnings in October
According to SoSoValue data, Bitwise's Bitcoin ETF (BITB) led earnings with a positive inflow of $15.3 million, followed by Fidelity's FBTC at $13.6 million. Ark 21Shares ARKB and VanEck's HODL each earned $5.3 million.
In contrast, Greyscale's GBTC reported withdrawals of $13.9 million. Other issuers — such as BlackRock's iShares Bitcoin Trust (IBIT) and Franklin Templeton Bitcoin ETF (EZBC) — reported no inflows during this period. Meanwhile, IBIT remains the leading Bitcoin ETF in the market, boasting more than $21 billion in accumulated net income.
Read more: How to trade Bitcoin ETF: A step-by-step approach
This development comes after October's turbulent start for Bitcoin. The top asset price fell below $60,000 during the week but recovered to $62,000 amid geopolitical tensions in the Middle East.
Despite the volatility, market observers are optimistic about Bitcoin's outlook for the fourth quarter. Analysts cite strong macroeconomic support and rising institutional investments as reasons for their bullishness.
“When you zoom in on bitcoin price seasonality in weeks rather than months, you can see that Uptober starts in the second week of October and is the strongest time of the year. We are on week 40. The rocket will take off next week at week 41, if the pattern continues,” wrote crypto analyst Gali Sama.
The network performs key master updates
On October 5, Jameson Lopp, co-founder of the self-sustaining solution Casa, announced the launch of Bitcoin Core version 28.0. This version brings significant security improvements and functionality improvements. It also fixes bugs and introduces better privacy features for users.
The release follows a warning from Bitcoin developers last month about a high-profile vulnerability that affected one in six Bitcoin nodes. This flaw allowed malicious actors to perform denial-of-service (DoS) attacks, overloading nodes with requests and exposing system crashes.
Read more: Bitcoin (BTC) Price Prediction 2024/2025/2030
Bitcoin Core 28.0 addresses these issues and adds additional security protections. A key addition is support for reproducible builds, allowing advanced users to compile identical binaries directly from the Bitcoin Core website. This measure increases transparency and trust in the Bitcoin community.
Node operators upgrading to version 28.0 should exit their current software version and back up their files before installing.
Disclaimer
Adhering to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This newsletter aims to provide accurate and up-to-date information. However, readers are advised to independently verify facts and consult with professionals before making any decisions based on this content. Please note that our terms and conditions, privacy policies and disclaimers have been updated.
