News

Bitcoin Spot ETFs Record $876M Inflow as BlackRock’s IBIT Leads with $899M

By

Triparna Baishnab

Triparna Baishnab

Bitcoin spot ETFs drew $876M on Oct 7, marking a seventh straight day of inflows; BlackRock’s IBIT led with $899M.

Bitcoin Spot ETFs Record $876M Inflow as BlackRock’s IBIT Leads with $899M

Quick Take

Summary is AI generated, newsroom reviewed.

  • That day marked seven consecutive days of net ETF inflows.

  • Bitcoin spot ETFs recorded $876M net inflow on Oct. 7

  • IBIT AUM sits near $97B; cumulative IBIT inflows likely ≈ $64.504B (reported $645.04B appears to be a typo).

  • $876M equals ~0.5% of ~$170B ETF AUM and supports spot price.

The iShares Bitcoin Trust (IBIT) by BlackRock recorded the highest one-day inflow. The Wu Blockchain and SoSoValue report that IBIT posted net inflow of $899 million on Oct. 7. The daily intake of IBIT was higher than the flows of competing products. IBIT is currently at an approximate of a 97billion AUM. IBIT still has the major institutional demand.

Data deviation and elucidation

The figure of IBIT of $899M is higher compared to the total number of ETF inflows of 876M. That is possible because vendors reported on varying reporting windows or other ETFs might report net outflows in the same 24-hour time. Another probable typo in the Wu posting is the inflows of the history of IBIT (645.04 billion). An amended and reasonable estimate is of an accumulated net inflows of about 64.504 billion in cumulative net inflows to IBIT since inception. I mark that as one of the formatting or reporting mistakes in the original post.

Scale and Historical Context

In January 2024, the U.S. spot Bitcoin ETFs were launched. Cumulative ETF AUM is close to being at $170B as of Oct. 7. Since inception, the ETFs recorded nearly 61.5B net inflows (industry totals). The $876M influx is the largest inflow day since the beginning of the cycle, but it is outpaced by the single-day peaks of up to 1.2 to 1.4B earlier in the cycle.

Price and Market Impact

ETF inflows provided apparent assistance to spot demand. Bitcoin was reported to be in the range of $118k -125k during the highlights of the period between 6-7 October. The $876M single day infusion is only a tiny fraction of the Bitcoin market cap at approximately $2.3T, but it generates price through focal purchasing and less liquidity on the available spot markets.

The existing trend is the most advantageous to BlackRock. Big ETFs like IBIT drag in headline flows and liquidity. Smaller ETFs attract much less volume every day. Traders monitor flow of ETFs as near-term momentum. Cumulative AUM is an indicator monitored by asset allocators, as a measure of institutional adoption.

Flows can reverse quickly. One mega outflow or an alteration in SEC/regulatory position can result in the reversal of the sign. Find the next-day reports on window compatibility problems between data providers. Whether the historical totals align with formal filings of funds or provider AUM reports, confirm historical totals to eliminate ambiguity in reporting.

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