U.S. spot Bitcoin ETFs recorded inflows of $1.07 billion over a three-day period starting Monday. This surge allowed the funds to recover from October losses, bringing the monthly net balance to approximately $460 million. Cumulative net inflows for these products have reached $58.4 billion, with total net assets now valued at $100.8 billion.
BlackRock’s IBIT fund drove the momentum with a $526.7 million inflow on Monday, marking the best performance for the sector since September 22. This activity follows a two-week period where funds saw outflows of roughly $910 million. Meanwhile, J.P. Morgan Asset Management issued a long-term forecast projecting a 10% compound annual return for Bitcoin over the next 10 to 15 years.
Ethereum ETFs saw a modest recovery with $14.9 million in inflows on Wednesday, ending a five-day outflow streak that totaled $389 million. Despite this, the funds remain down by roughly $1.07 billion for October. Cumulative net inflows for Ethereum products currently stand at $12.8 billion.
Market prices saw a decline on Thursday, with Bitcoin trading at approximately $81,470 and Ethereum falling to roughly $2,393. The total cryptocurrency market capitalization decreased by 2.9% to $2.84 trillion. Prediction market participants on Myriad currently assign a 20% probability to Bitcoin exceeding $87,500 before the end of the month.
