BlackRock's IBIT Drives $137 Million Bitcoin (BTC) ETF Inflow, Third Straight Day

IBIT Takes In $136 Million on Wednesday

United States spot Bitcoin (BTC) ETFs took in a net $137.3 million on Wednesday, October 28, the third consecutive session of net creations since October 26. Daily creation and redemption disclosures show that not one product in the lineup posted an outflow for the day, and no redemption of any size appeared on the board. BlackRock's IBIT absorbed $136 million, effectively the entire tally, and Bitwise's BITB added a further $1.3 million. Twelve products from eleven issuers make up the lineup, and on Wednesday Fidelity's FBTC, Grayscale's GBTC and BTC, ARK Invest and 21Shares' ARKB, VanEck's HODL, Franklin Templeton's EZBC, CoinShares' BRRR, Invesco Galaxy's BTCO, WisdomTree's BTCW and Morgan Stanley's MSBT all printed zero, leaving 99% of the day's demand in IBIT alone and the remainder in BITB. The mechanics explain why the print reads as fresh demand rather than rotation: an ETF holds the underlying coin in custody for its shareholders, so a net creation means new shares were issued against fresh deposits, adding directly to demand for the proof-of-work asset instead of shuffling coins between issuers. The figures cover the US trading session that ended on Wednesday evening, eastern time. The Bitcoin price has not confirmed the ledger's turn: spot sits near $79,836 at the time of writing, about 1.5% lower across the past 24 hours, so the two series moved apart over the window the disclosures cover. The Bitcoin (BTC) market reads institutional demand through these prints, so three modest positive days still matter for the monthly ledger.

Zoom out to the five sessions from October 22–28 and the ledger flips: the group's net position over that stretch is an outflow of $349.9 million. The redemptions were concentrated in a handful of vehicles. Fidelity's FBTC shed $224.8 million, ARK Invest and 21Shares' ARKB lost $109.4 million, Grayscale's GBTC gave up $29.5 million and BITB, despite Wednesday's small creation, finished the period $26.1 million lower. IBIT and Morgan Stanley's MSBT were the only gainers across the five days, adding $33.4 million and $6.5 million respectively. The issuers do not disclose which clients redeem, so what drove the five-day deficit is not stated in the disclosures themselves. The monthly picture is thin as well: October's net inflows stand at $110.1 million through the 28th, a fraction of September's $2.6 billion. Since the lineup launched in January 2024, months before the network's most recent Bitcoin halving, cumulative net inflows total $57.67 billion, with IBIT alone drawing about $66.5 billion while GBTC has bled out $27.95 billion since its conversion. Creation data is read closely for a reason: an on-chain crypto whale can move coins between wallets without ever touching the fund ledger, so the issuers' daily prints are treated as a cleaner window on institutional positioning. At Wednesday's pace of $137.3 million a day, repairing the five-day deficit would take the lineup well into next week. Corporate treasury buying has continued outside the wrapper: Strive's 6,182 BTC purchase in one week is the latest example, and long-horizon demand cases remain on the table, none bolder than Bitwise's $1.6 million price target for 2036.

Support at $79,402, Resistance at $81,947

Our composite reading frames where price meets this flow picture: spot trades at $79,836, about 1.5% lower on the day, with the strongest support at $79,402 (84/100) and the strongest resistance at $81,947 (96/100) on our composite scoring. The trend flag reads a downtrend, the RSI sits at 41.73, and our standing Bitcoin technical analysis tracks both levels in full. Positioning is unhurried: open interest stands at $16.17 billion and the perp funding rate at 0.0025%, neither stretched. The two series currently point apart. Creations have run for three straight sessions, yet price holds below the scored ceiling, and the readings that would settle the disagreement are a daily close above $81,947 or a return of redemptions to the ledger.