US-listed spot Bitcoin exchange-traded funds extended their daily inflow streak to three on Wednesday, adding $137 million and pushing October back into positive territory with two trading sessions left in the month.
The inflows brought the funds’ three-day total to roughly $424 million and October’s net inflows to $111 million, according to SoSoValue data. October’s cumulative net flows had remained negative through Tuesday, after nearly $774 million flowed out over the final two trading days of the previous week.
Fed holds rates steady
The Bitcoin ETF rebound coincided with the US Federal Reserve keeping its benchmark interest rate unchanged at a target range of 3.75% to 4% on Wednesday. Fed Chair Kevin Warsh warned that inflation remained above the central bank’s 2% target.
“With limited new direction from the Fed, Bitcoin’s near-term performance may depend more heavily on Treasury yields, dollar movements and broader risk sentiment,” Bitget analyst Lewis Huang said.
Bitcoin traded at $79,848 at the time of writing, down around 1% over the past 24 hours, according to CoinGecko. Market sentiment remained unchanged, with the Crypto Fear & Greed Index holding at 51, or “Neutral,” for a second consecutive day.
Ether ETFs continue outflows
Ether ETFs continued to see withdrawals, shedding another $21 million on Wednesday and bringing October’s net outflows to $1.35 billion. Ether traded at $2,310, down 1.7% over the past 24 hours.
