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Inflows into spot Bitcoin ETFs have increased significantly this week, reaching $947 million in the first two days. The institutional inflows have resumed amid the expectations of ‘Uptober’ crypto market rally as Q4 begins. BTC price has bounced back, gaining over 3% in the last 24 hours, and is currently trading above $116,000.
Bitcoin ETF Inflows Bounce Back Sharply
After last week’s outflows, Bitcoin ETFs have flipped again with net positive flows, reaching closer to $1 billion in the first two days of this week. On September 30, spot Bitcoin ETFs recorded a total net inflow of $430 million, with all twelve ETFs reporting positive inflows and none experiencing net outflows.
The strong inflows indicate that institutional investors remain risk-on, seeking Bitcoin exposure rather than taking profits. On Tuesday, September 30, BlackRock’s IBIT led most of the inflows at $199.4 million.
The BlackRock Bitcoin ETF (IBIT) recorded a net inflow of 1,760 BTC, valued at approximately $199.4 million. Trading volume for the fund reached $2.4 billion, highlighting strong investor demand for Bitcoin exposure through the ETF.
In another development, BlackRock’s IBIT hit another milestone, overtaking Deribit, to become the largest platform for Bitcoin options. The milestone follows the SEC’s approval earlier this year of options trading on the iShares Bitcoin Trust (IBIT).
Following last Friday’s $23 billion crypto options expiry, BTC open interest on the Nasdaq-listed IBIT surged to nearly $38 billion, surpassing Deribit’s $32 billion. Analysts say this shift highlights increasing Wall Street adoption and marks a significant turning point.
Nasdaq Files to List BlackRock iShares Bitcoin Premium Income ETF
Nasdaq has submitted an official filing with the U.S. Securities and Exchange Commission (SEC) to list and trade BlackRock’s iShares Bitcoin Premium Income ETF. The fund, managed by the world’s largest asset manager, aims to provide investors with yield through Bitcoin-linked strategies.
According to the SEC filing dated September 30, Nasdaq proposes to list the ETF under the commodity-based trust rule. The move follows BlackRock’s recent registration of the iShares Bitcoin Premium Income ETF in Delaware.
Bloomberg analyst Eric Balchunas described the fund as a “sequel” to BlackRock’s IBIT ETF. This highlights the expansion of the company’s Bitcoin-focused offerings rather than diversification into a broad range of altcoins.
The product is designed to allow investors to generate income from Bitcoin while potentially reducing volatility. The SEC has acknowledged Nasdaq’s submission and is now seeking public comments on the proposed rule change to list and trade the ETF under the commodity-based trust framework.
BTC Price Blasts Past $116,000
Amid the current developments, Bitcoin price has bounced back, gaining 3.4% in the last 24 hours and is currently trading above $116,000. Crypto analyst Ted Pillows noted that Bitcoin (BTC) has fully reclaimed the $113,500 support level, signaling renewed bullish momentum.
According to Pillows, the next significant resistance lies around $117,500. If BTC surpasses this level, the cryptocurrency could rally toward a new all-time high. However, he cautioned that a drop below $113,500 could open the door to lower price levels, highlighting the importance of this support zone for near-term market direction.
Amid the recent rally, the crypto market liquidations have shot up to $622 million, of which $423 million is in short liquidations.
Crypto analyst Ted Pillows explained the latest surge in Bitcoin (BTC), linking the move to weaker U.S. jobs data. He said that this has fueled expectations of a Federal Reserve rate cut later this month.
The rally comes as the U.S. government officially entered a shutdown today. Pillows noted that in the previous two shutdowns, Bitcoin initially surged but later faced sharp declines. He also suggested investors should remain cautious despite the current upside momentum.
