Spot Bitcoin ETFs draw $134.4 million in first two days of October

A rebound after the September streak

The funds drew $102.7 million on Thursday and another $31.7 million on Friday, per Decrypt's tracker. September itself was strong: the funds booked $2.65 billion in net inflows last month (their second-best month since October 2025), according to SoSoValue data.

Cumulative net inflows since launch stand at $58.1 billion, with total net assets at $101.1 billion, according to Decrypt's tracker. Year-to-date flows look thinner. They're still under $1 billion after heavy outflows in the first part of the year.

Jobs data and rate odds

The inflows landed in the same week as a soft labor print. The U.S. economy added just 29,000 jobs in September and unemployment rose to 4.2%, according to the Bureau of Labor Statistics. After the release, CME FedWatch odds of an October rate hike fell to 14% (they'd sat at 70% that same week), Decrypt reported.

Decrypt noted that a weaker labor market eases pressure on the Fed to keep raising rates, which tends to favor risk assets like Bitcoin.

The next data points are already on the calendar, with September's CPI report due Oct. 14 and the Fed meeting on Oct. 28.

What "Uptober" means

"Uptober" is crypto shorthand for October's track record as one of Bitcoin's strongest months. Stephen Wundke of Algoz told Decrypt that Bitcoin has averaged an 18% gain in October over the past decade. He also commented on how traders are positioned:

"Traders feel there is more upside currently than there is downside," he said.

Bitcoin briefly tested $87,173 on Friday, just below its September high of $87,354, before pulling back, Decrypt reported. It traded around $85,000 on Sunday morning, up 0.5% over 24 hours, according to CoinGecko data.

Prediction markets aren't as upbeat. Traders on Myriad (a prediction market owned by Decrypt's parent company, Dastan) put the odds at 93% that Bitcoin won't set a new all-time high in 2026.