Spot Bitcoin ETFs Net $1.18B as BTC Soars to $126K
On October 7, US-listed spot Bitcoin ETFs recorded $1.18B in inflows, marking their second-largest single-day haul as BTC surged to an all-time high of $126,186 before settling near $123,430. BlackRock’s iShares Bitcoin Trust led with $970M, pushing its assets under management close to $100B after amassing over 783,767 BTC. Fidelity’s Wise Origin fund, Bitwise ETF and Grayscale’s Mini Trust added $112M, $60M and $30M respectively, while Invesco, WisdomTree and Franklin Templeton saw smaller flows. October inflows into spot Bitcoin ETF products have now reached $3.47B across four trading days, lifting year-to-date totals above $60B amid strong institutional demand. Meanwhile, Senator Cynthia Lummis confirmed that the US Strategic Bitcoin Reserve could deploy seized BTC as funding “at any time,” with future purchases via budget-neutral channels. This combination of massive ETF inflows, institutional buying and potential government Bitcoin acquisitions reinforces a bullish outlook for Bitcoin.
Bullish
Massive spot Bitcoin ETF inflows of $1.18B and a record BTC high signal strong buying pressure. Institutional demand for regulated ETF products is driving this rally. The approach of BlackRock’s iShares to $100B AUM underscores growing confidence. On top of that, potential government acquisitions via the Strategic Bitcoin Reserve add a new bullish catalyst. These factors point to both near-term momentum and longer-term strength in Bitcoin’s price.