Investors bought over $241 million worth of US Bitcoin Exchange-Traded Funds (ETFs) last week, marking the third consecutive week of net capital inflows. This move has helped this already leading cryptocurrency to maintain its upward trend during the so-called “Uptober” launch phase.

Data from Farside Investors shows that, except for Wednesday, these popular funds experienced capital inflows on every trading day of last week; on Wednesday, speculators withdrew nearly $149 million from these products.

Currently, Bitcoin has risen by nearly 7% in the past 30 days, with the latest price at $85,605.

Last week, iShares and Bitcoin Trust under BlackRock attracted the largest share of investments, securing over $450 million in new funds.

Funds managed by Fidelity and Morgan Stanley also saw significant trading activity and capital inflows.

Investors purchasing shares of US Bitcoin ETF often provide support for the price of Bitcoin. Such funds allow investors to buy fund shares through their brokerage accounts, thereby conveniently gaining exposure to this asset.

After the U.S. Treasury Department stated in August that it would expand the scale of government debt repurchase to more than twice the original amount, the price of Bitcoin began to rise. Since then, this cryptocurrency has experienced its best performance in three years, and it has had the third-best August on record.

Recently, the price of Bitcoin has also benefited from what is known as "currency devaluation trading": that is, investors buy certain assets to hedge against the risk of currency devaluation. The US dollar depreciated in August.

After entering September, Bitcoin has continued to perform strongly, rising by nearly 6% in the past 30 days.

In the third quarter of this year, Bitcoin recorded its best performance in three months since 2024.

So far, the phenomenon known as “Uptober” in October has had a good start: historically, October has usually brought decent returns for Bitcoin investors.

Data company CryptoQuant stated in a September report last week that Bitcoin has re-entered a bull market after breaking through the 365-day moving average. The company described this as a “clear technical signal” that has previously indicated the start of upward trends in such assets in past cycles.

In October last year, the price of Bitcoin reached a historical high of $126,080, before falling following a large-scale liquidation event. For most of 2026, Bitcoin has been in a bear market.