According to the source, BlackRock’s iShares Bitcoin Trust (IBIT) recorded creations totaling 3,930 BTC valued at approximately $466.5 million on Oct. 2, 2025, source: X post dated Oct. 3, 2025. Under the ETF creation process, authorized participants obtain or deliver spot BTC to create new IBIT shares, which can concentrate execution and affect intraday liquidity on major venues, source: iShares Bitcoin Trust prospectus filed with the U.S. SEC. The reported 3,930 BTC equals roughly 8.7 days of post-April 2024 issuance at about 450 BTC per day, indicating material buy-side absorption versus new supply, source: Bitcoin.org Developer Guide on block subsidy (3.125 BTC per block) and the standard 144 blocks per day estimate. Traders can monitor U.S. session liquidity, CME BTC futures basis, and spot-futures spreads for confirmation of AP hedging and cash creations tied to ETF inflows, source: CME Group Bitcoin futures product materials and market structure notes.

According to the source, Fidelity’s spot Ethereum ETF bought 34,740 ETH worth $159.4M on Sept. 18. Source: the source. Traders should verify this figure via Fidelity Investments’ official ETF holdings and creation/redemption disclosures and the NSCC daily ETF flow files; once confirmed, cash-creation procedures require authorized participants to source ETH in the spot market to meet NAV, increasing same-day buy-side volume. Source: Fidelity Investments; DTCC/NSCC documentation; U.S. SEC spot Ethereum ETF registration statements.

According to @rovercrc, Bitwise has confirmed completion of the first-ever in-kind redemption for its Bitcoin ETF, reported on Aug 22, 2025, source: @rovercrc on X. In-kind redemptions deliver underlying bitcoin to an authorized participant instead of selling for cash, a structure ETFs use to minimize capital gains distributions and trading costs, source: SEC Investor Bulletin on Exchange-Traded Funds. Because the ETF transfers BTC rather than selling in the open market, in-kind redemptions are designed to limit market impact and support tighter ETF-NAV alignment via the AP arbitrage process, source: BlackRock iShares ETF education and CFA Institute ETF Primer. The Bitwise Bitcoin ETF (ticker BITB) offers standard creation and redemption mechanisms disclosed in its fund materials, which traders monitor alongside NAV premiums/discounts and flow metrics to gauge liquidity conditions, source: Bitwise Asset Management fund documentation.

According to @FarsideUK, Grayscale’s US spot Bitcoin ETF registered a US$5 million net daily flow on August 21, 2025, based on Farside Investors’ Bitcoin ETF flow tracker and disclosures on Farside Investors’ website. The U.S. SEC explains that ETF creations and redemptions route primary market demand via authorized participants, making daily flow data directly relevant for assessing potential impacts on spot BTC liquidity and trading conditions, source: U.S. SEC investor education on ETFs.

According to @milesdeutscher, spot BTC and ETH ETFs have recorded $17B in net inflows over the past 60 days, with more than $11B in July alone (source: @milesdeutscher). Such sustained inflows require primary market creations, meaning authorized participants acquire underlying BTC and ETH, adding direct spot demand that can underpin liquidity and price during inflow regimes (source: U.S. SEC Investor Bulletin on Exchange-Traded Funds; source for flow figures: @milesdeutscher). The July figure implies an average daily net buy pace above $350M via spot ETFs, a flow magnitude that traders can use to gauge near-term bid strength in BTC and ETH (source: calculation based on figures from @milesdeutscher; mechanics reference: U.S. SEC Investor Bulletin on ETFs).

According to Eric Balchunas, recent changes regarding IBIT ETF redemption are designed exclusively for authorized participants (APs), primarily large institutions that handle creation and redemption. This update does not allow retail investors to exchange IBIT shares for actual bitcoin, although a retail-accessible ETF with such features may launch in the future, similar to the $OUNZ gold ETF. The change is considered a technical adjustment to improve operational efficiency for institutions and has minimal immediate impact on retail traders. Source: Eric Balchunas.