Key Takeaways
- • BlackRock's Bitcoin ETF recorded a net inflow of $151.46 million as of October 28, according to SosoValue data cited by U.Today, marking the second consecutive day of notable inflows.
- • The broader U.S. Bitcoin ETF market recorded a combined inflow of $175.99 million in its latest trading session, with BlackRock's fund accounting for the majority of the activity.
- • Bitcoin briefly reclaimed the $81,000 level before slipping back into negative territory, trading around $80,509 at the time of writing, down 0.04% over 24 hours.
- • Institutional demand returned after several weeks of cautious trading and withdrawals, though analysts say sustained ETF inflows are needed to drive a stronger price rebound.
Summary
BlackRock has resumed accumulating Bitcoin, with its Bitcoin ETF recording a net inflow of $151.46 million as of October 28, according to data from ETF tracker SosoValue as reported by U.Today. The purchase marks the second day in a row that the fund has recorded a notable net inflow, following a period in which cautious institutional trading had produced consistent withdrawals.
The renewed buying coincided with a recovery in Bitcoin's price, which reclaimed its local high near the $81,000 level after a volatile stretch over the preceding week. The broader Bitcoin ETF market also saw renewed institutional interest, with combined inflows across the funds totaling $175.99 million in the latest trading session. The source notes that BlackRock's fund still accounts for the largest share of that participation, suggesting it retains a dominant position among spot Bitcoin ETFs.
The price recovery proved short-lived. Following BlackRock's purchase, Bitcoin shifted back into negative territory and was trading around $80,509 at the time of writing, a decline of 0.04% over the prior 24 hours. Market analysts quoted by the publication believe sustained demand across the Bitcoin ETF market could support a stronger rebound, though the asset's price remains relatively weak despite the recent recovery.
The renewed buying coincided with a recovery in Bitcoin's price, which reclaimed its local high near the $81,000 level after a volatile stretch over the preceding week. The broader Bitcoin ETF market also saw renewed institutional interest, with combined inflows across the funds totaling $175.99 million in the latest trading session. The source notes that BlackRock's fund still accounts for the largest share of that participation, suggesting it retains a dominant position among spot Bitcoin ETFs.
The price recovery proved short-lived. Following BlackRock's purchase, Bitcoin shifted back into negative territory and was trading around $80,509 at the time of writing, a decline of 0.04% over the prior 24 hours. Market analysts quoted by the publication believe sustained demand across the Bitcoin ETF market could support a stronger rebound, though the asset's price remains relatively weak despite the recent recovery.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.