On October 4, the US spot Bitcoin exchange-traded fund (ETF) recorded its first inflows of the month, recovering from $400 million in outflows in the first three trading days.
This rally coincided with the announcement of a major upgrade to Bitcoin Core.
Bitcoin ETF first inflow in October
According to SosoValue data, Bitwise’s Bitcoin ETF (BITB) led with $15.3 million in net inflows, followed by Fidelity’s FBTC with $13.6 million. ARK 21Shares’ ARKB and VanEck’s HODL each saw $5.3 million inflows.
Meanwhile, Grayscale’s GBTC reported $13.9 million in outflows. BlackRock’s iShares Bitcoin Trust (IBIT) and Franklin Templeton Bitcoin ETF (EZBC) saw no inflows during the period. Meanwhile, IBIT remained the market leader, with cumulative net inflows exceeding $21 billion.
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This development comes after Bitcoin’s early October slump, when the BTC price briefly fell below $60,000 for a week amid geopolitical tensions in the Middle East, but soon recovered to $62,000.
Despite the volatility, market observers are optimistic about Bitcoin’s prospects in Q4. Analysts cite strong macroeconomic support and increasing institutional investment as reasons for their optimism.
“If we look at the Bitcoin price seasonality by week, the Uptober, which begins the second week of October, is the strongest period of the year. We are in week 40. If the pattern holds, the rocket launches next week, week 41,” cryptocurrency analyst Gally Sama wrote .
Network, core core updates in progress
On October 5, Jameson Robb, co-founder of self-storage solution Casa, announced the release of Bitcoin Core version 28.0. This version brings important security enhancements and functionality improvements . It also fixes bugs and improves user privacy.
This release comes after a warning last month, when Bitcoin developers warned of a high-risk vulnerability affecting one in six Bitcoin nodes. The flaw could allow malicious actors to perform a denial of service (DoS) attack , overwhelming the node with excessive data requests and causing the system to crash.
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Bitcoin Core 28.0 addresses these issues and provides additional security protections. A key addition is support for reproducible builds, allowing advanced users to compile identical binaries directly from the Bitcoin Core website. This measure increases transparency and trust within the Bitcoin community.
Node operators upgrading to version 28.0 should shut down their current software version, back up their files, and then install.
