US spot Bitcoin ETFs draw $134.4 million to start October

US spot Bitcoin ETFs recorded $134.4 million in net inflows to start October, according to Decrypt's Bitcoin ETF tracker. Decrypt's tracker recorded $102.7 million in net inflows on Thursday. Decrypt's tracker recorded another $31.7 million in net inflows on Friday.

The funds recorded $148.7 million in outflows on September 30, ending a nine-session inflow streak that began September 17. However, SoSoValue data showed September was the funds' second-best month since October 2025, with $2.65 billion in net inflows. Decrypt's tracker put cumulative net inflows since the funds launched at $58.1 billion. Decrypt's tracker put total net assets at $101.1 billion. Year-to-date ETF inflows remain under $1 billion after heavy outflows earlier in the year.

The term "Uptober" refers to October's record as one of Bitcoin's strongest months. Algoz's Stephen Wundke said Bitcoin has averaged an 18% gain in October over the past decade. Wundke said traders currently see more potential for gains than losses.

The Bureau of Labor Statistics reported that the US economy added just 29,000 jobs in September. The Bureau of Labor Statistics reported that unemployment rose to 4.2%. CME FedWatch odds of an October rate hike fell to 14% after Friday's jobs report, from 70% earlier in the week. A weaker labor market eases pressure on the Federal Reserve to keep raising rates, which tends to favor risk assets such as Bitcoin.

Bitcoin briefly reached $87,173 on Friday, just below its September high of $87,354, before declining. CoinGecko data showed Bitcoin trading at $84,786 on Saturday morning, down 0.65% over 24 hours. However, traders on Myriad put the probability that Bitcoin will not set a new all-time high in 2026 at 93%. Myriad is a prediction market owned by Decrypt's parent company, Dastan.

September's Consumer Price Index report is scheduled for October 14. The Federal Reserve meets on October 28.