After a choppy few weeks, spot ETF flows have turned net positive for the third straight day. On their own, three sessions don’t make a trend — but they matter when issuance is already tight post-halving.
Every BTC that disappears into an ETF wrapper is one more coin that has to be pried out of long-term hands during the next impulse move. For miners, it’s a reminder that the marginal buyer increasingly sits inside legacy rails.
Why miners should care about ETF plumbing
- ETF demand can outstrip fresh issuance, especially right after a halving.
- Flows shape funding conditions for public miners and hosting companies.
- Strong ETF demand tends to tighten the floor under hash-price in BTC terms.
Watching flows is not about trading around them. It’s about understanding how quickly liquid supply disappears when the traditional asset-management complex decides it wants exposure.