Overview
- U.S. spot Bitcoin ETFs recorded three straight sessions of net inflows on Oct. 26–28 that added about $423.6 million to the group, reversing earlier large withdrawals.
- BlackRock’s iShares Bitcoin Trust (IBIT) supplied roughly 94% of that three‑day inflow, with trackers and on‑chain analysis showing IBIT wallets taking thousands of BTC from Coinbase Prime over a 24‑hour span.
- Despite the recent buying, the 30‑day window through Oct. 26 still showed about $254.7 million in net outflows for U.S. spot Bitcoin ETFs, leaving the category negative overall.
- U.S. spot Ethereum ETFs registered their third straight session of withdrawals on Oct. 28, losing about $21.4 million that day and roughly $170.2 million across the three trading sessions noted in coverage.
- Market structure and mechanics are key drivers: the SEC’s July 2025 approval of in‑kind creation and redemption can shift how ETF flows translate into spot trades, and Glassnode’s data show bids around $80k were filled on Oct. 24 and not fully replenished, making prices sensitive to concentrated flows and leveraged liquidations.