On the 4th of October, significant developments took place in the crypto ETF market, especially in Bitcoin spot exchange-traded funds. As per the data from SoSoValue, a well-known financial research forum, Bitcoin ETFs saw $25.59M in inflows while Ethereum ETFs went through a net outflow of nearly $3.20M. This is more meaningful because Bitcoin witnessed huge outflows on first 3 days of October which is anticipated to be positive for Bitcoin and the overall crypto world.

Bitcoin Spot ETFs Add $25.59M on October 4, Indicating a Shift in Investor Sentiment

SoSoValue mentioned that a notable activity occurred in particular funds among diverse Bitcoin ETFs. In this respect, Grayscale’s $GBTC recorded a net outflow of approximately $13.91M. The respective outflow is opposite to the inflows that the rest of the Bitcoin ETFs added. For instance, the Bitwise Bitcoin ETF ($BITB) included $15.29M in inflows. This indicates the diversification of the Bitcoin holdings by the investors across several funds.

In addition to this, Fidelity’s $FBTC ETF also incorporated an inflow of almost $13.63M. This indicates a mounting interest among the conventional financial institutions that offer crypto exposure. The overall inflow into the $BTC ETFs specifies that the investors are confident about the potential of the top crypto asset.

Ethereum ETFs Keep Facing Outflows with a Decreased Price Performance as a Potential Contributing Factor

On the other hand, the spot ETFs of Ethereum faced a cumulative outflow of $3.20M. This points toward the investors’ decreasing exposure to the 2nd-biggest crypto in terms of market capitalization. This could signify provisional market apprehensions or a wider shift in the overall sentiment. A possible reason for this takes into account the recent decrease in the price performance of Ethereum in comparison with Bitcoin.

Though Bitcoin keeps attracting inflows, the outflows of Ethereum could highlight a shifting investor sentiment. Nevertheless, both the top crypto assets remain the leader in the market while the onlookers closely watch them to gauge the wider market trends. If the inflows continue next week then we may likely enter the next phase of bull run converting October to Uptober.