BlackRock on a crypto buying spree with over $560 million Bitcoin haul in 5 days
BlackRock’s (NYSE: BLK) iShares Bitcoin Trust (NASDAQ: IBIT) recorded over $560 million in net Bitcoin (BTC) inflows in a week as institutional investors showed renewed interest in the maiden cryptocurrency.
Specifically, the fund attracted $565.7 million in net inflows over five trading sessions from October 19 to October 23, making it the strongest-performing fund in the U.S. spot Bitcoin ETF market over the period.
Despite IBIT’s gains, the broader U.S. spot Bitcoin ETF market recorded a smaller net inflow of $301.2 million. IBIT attracted $665.2 million on October 19, its largest single-day inflow since October 2025. It recorded another $29.9 million on October 20 and $235 million on October 21.
The trend reversed on October 22, when IBIT registered $254.1 million in net outflows, followed by another $110.3 million on October 23. Despite the withdrawals, the fund ended the period with $565.7 million in net inflows.
Overall, U.S. spot Bitcoin ETFs attracted $1.07 billion over the first three sessions before losing $773.5 million over the final two.
Bitcoin spot ETF inflows chart. Source: Coin Glass
Daily Bitcoin ETF inflows
Daily inflows reached $526.7 million on October 19, $23.2 million on October 20, and $524.8 million on October 21. The market then recorded $635.6 million in outflows on October 22, its largest single-day withdrawal since June, followed by another $137.9 million on October 23.
The rebound reflects growing institutional demand for Bitcoin ETFs, which have overtaken corporate treasuries as a source of Bitcoin buying, according to Coinbase Institutional’s October 23 commentary.
Corporate treasuries bought approximately $14.5 billion in Bitcoin during the first half of 2026, while U.S. spot ETFs recorded nearly $5 billion in net selling. Since August, ETFs have attracted about $6.4 billion, compared with $1.5 billion for corporate treasuries.
Macroeconomic pressures remain a risk as U.S. producer prices rose 1.3% month over month in September, their largest increase since March 2022, while markets priced in a higher probability of a Federal Reserve rate hike in December.
Higher rates could weigh on Bitcoin by tightening financial conditions and making yield-bearing assets more attractive.
Meanwhile, Coinbase Institutional identified $80,000 to $82,000 as a key support zone, citing ETF holders’ estimated cost basis of $81,300 and the 50-day moving average (MA) near $81,700. A sustained break below this range could expose Bitcoin to further losses toward $73,000 to $75,000.
Ethereum ETF records outflows
On the other hand, Ethereum (ETH) ETFs recorded $220.7 million in net outflows over the five sessions, despite attracting $4.4 million on October 23.
BlackRock’s iShares Ethereum Trust (NASDAQ: ETHA) accounted for $233.2 million in outflows, losing $95.4 million on October 19, $33 million on October 20, $29.3 million on October 21 and $75.5 million on October 22.
The divergence highlights stronger institutional demand for Bitcoin, with IBIT attracting $565.7 million in net inflows over the same period.
Featured image via Shutterstock
