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<p>That $635m was oct 22. the bitcoin:native etf week actually closed +$301m

the real story is who's holding the bag:

IBIT +$566m this week
every other etf combined -$265m

2026 so far, all etfs together: +$656m
IBIT alone: +$4.0b

so basically BlackRock is the market, and the expensive funds are funding it. 

$GBTC at 1.5% fees is -$2.7b this year while the 0.15% clones keep growing...
and yesterday even $IBIT went red (-$110m)

BTC sits at ~80.6k, right under the ~81k avg cost of etf buyers

if IBIT starts selling too... who's left buying?</p>

That $635m was oct 22. the bitcoin:native etf week actually closed +$301m
the real story is who's holding the bag:
IBIT +$566m this week
every other etf combined -$265m
2026 so far, all etfs together: +$656m
IBIT alone: +$4.0b
so basically BlackRock is the market, and the expensive funds are funding it. 
$GBTC at 1.5% fees is -$2.7b this year while the 0.15% clones keep growing...
and yesterday even $IBIT went red (-$110m)
BTC sits at ~80.6k, right under the ~81k avg cost of etf buyers
if IBIT s

That $635m was oct 22. the bitcoin:native etf week actually closed +$301m the real story is who's holding the bag: IBIT +$566m this week every other etf combined -$265m 2026 so far, all etfs together: +$656m IBIT alone: +$4.0b so basically BlackRock is the market, and the expensive funds are funding it. $GBTC at 1.5% fees is -$2.7b this year while the 0.15% clones keep growing... and yesterday even $IBIT went red (-$110m) BTC sits at ~80.6k, right under the ~81k avg cost of etf buyers if IBIT starts selling too... who's left buying?

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