According to SoSoValue data, on October 7, 12 spot Bitcoin ETFs recorded inflows of $235.19 million, representing an increase of over ninefold from the previous trading day’s inflow of $25.59 million.

Fidelity’s FBTC led the way with $103.68 million in inflows, while BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, followed closely with $97.88 million. IBIT had reported no flows the previous day, so this rebound has been notable.

Bitwise’s BITB, on the other hand, continued its flows with a net inflow of $13.09 million for three consecutive days, while Ark and 21Shares’ ARKB added $12.63 million.

Other Bitcoin ETFs also saw inflows; Bitwise’s BITB continued its three-day net inflow streak with $13.09 million. Ark and 21Shares’ ARKB followed closely with a net inflow of $12.63 million. VanEck’s HODL and Invesco’s BTCO reported more modest inflows of $5.37 million and $2.53 million, respectively.

Meanwhile, Grayscale’s GBTC and other spot BTC ETFs recorded zero net flows for the day.

Total trading volume increased significantly across 12 Bitcoin ETFs on October 7, reaching $1.22 billion compared to the previous day. These funds have attracted a combined net inflow of $18.73 billion since their inception.

These inflows coincided with the price of Bitcoin recovering to $63,000 on October 7, up 2% from the previous day. This positive market sentiment followed a brief decline caused by rising geopolitical tensions such as the Iran-Israel conflict.

While global uncertainties impact markets, Bitcoin’s recovery also appears to be linked to political developments in the US and broader economic trends.

Among the latest developments, a rally in Butler, Pennsylvania, attended by former President Donald Trump along with Elon Musk, may have increased optimism among investors.

Musk’s support for Trump’s candidacy invigorated political supporters, and according to some analysts, this also had a positive impact on the markets, creating a positive feedback loop for Bitcoin.

This rally, combined with stronger-than-expected US employment data, has increased confidence in Bitcoin as investors evaluate political, economic and market trends.

Despite significant inflows, Bitcoin’s price remained stable throughout the day. At the end of reporting on October 8, Bitcoin was down 1.8% to $62,332, while the broader cryptocurrency market had seen over $218 million liquidated. Unlike Bitcoin, spot Ethereum ETFs had a quiet day.

According to SoSoValue data, nine spot Ethereum ETFs in the US recorded zero inflows on Oct. 7, compared to a modest net inflow of $7.39 million on the previous trading day. The trading volume of these ETFs also decreased significantly, falling to $118.43 million from $148.01 million the previous day.

Ethereum’s price also fell 2.9% to $2,417, reflecting the overall market decline, and investors remained cautious despite the rise in Bitcoin-related products.