Bitcoin’s price spiked, and ETF inflows are on a tear as “Uptober” just gets started.
Over the last two months, at least 31 crypto exchange-traded fund (ETF) applications were filed with the US Securities and Exchange Commission, 21 of which were filed in the first eight days of October.
This ETF wave comes amid increased optimism in crypto markets, which have seen impressive gains over the last month. The price action has started a familiar pattern of markets booming in October, dubbed “Uptober.”
This also coincides with major geopolitical developments that can affect the finance sector. In France, Prime Minister Sébastien Lecornu has stepped down after just 26 days, rocking the country’s financial markets. In the US, a government shutdown has put federal business on pause, including ETF considerations at the SEC.
