Bitcoin ETFs Are Buying Again: $626 Million in Three Days

Institutional money is stepping back into $Bitcoin at a pace the market has not seen in weeks. US-listed spot Bitcoin ETFs took in $244.4 million on Wednesday, capping three straight inflow days worth a combined $626 million according to SoSoValue data. It is a notable shift for a product category that spent most of the summer bleeding.How much did the ETFs actually buy?The run started on Monday and built through the week. Tuesday's session brought $211.5 million in net inflows, with IBIT capturing $170.3 million, FBTC $19.6 million, ARKB $9.2 million, BITB $8.7 million and MSBT $3.7 million. Wednesday was the largest single day of the week.The concentration is the real story. BlackRock's iShares Bitcoin Trust took $479 million of the three-day total, lifting its cumulative net inflows to almost $61 billion. Every other issuer is fighting over the remainder.Why is this happening now?Two things lined up. Risk appetite improved across traditional markets at the start of the month, with equity indices grinding back toward record territory and crude oil easing after geopolitical tension around Iran cooled off. Bitcoin tends to trade with that tape.The second driver is regulatory. Frank...