Bitcoin Spot ETFs Extend Inflow Streak to Three Days
Bitcoin spot ETFs recorded $137 million in net inflows on 28 October, marking a third consecutive day of inflows, according to SoSoValue. BlackRock’s IBIT attracted $136 million, while Bitwise’s BITB received about $1.32 million, meaning most of the latest daily total went to IBIT. Bitcoin spot ETFs held $104.877 billion in net assets, equal to 6.41% of Bitcoin’s market capitalisation, and cumulative net inflows reached $57.607 billion. The three-day inflow run suggests renewed demand for Bitcoin exposure through ETFs, though the concentration in IBIT is worth watching.
Bullish
Three consecutive days of net inflows into Bitcoin spot ETFs point to renewed demand for Bitcoin exposure and may support BTC in the short term if the flows continue. ETF purchases can add a source of buying pressure and reinforce positive sentiment among traders. However, the latest $137 million total was largely driven by IBIT, so the breadth of demand across funds appears limited. ETF flows can also change quickly and do not guarantee price gains. Longer term, sustained inflows would be a constructive signal for Bitcoin, while a reversal or continued concentration in one fund could weaken the signal. Overall, the reported flows are modestly supportive of BTC, but traders should weigh them alongside broader market conditions and subsequent flow data.