BlackRock’s IBIT adds $565.7 million, drives US spot Bitcoin ETF weekly inflows
US spot Bitcoin exchange-traded funds (ETFs) ended the week of October 23 with a net inflow of $301.2 million, according to data from Farside Investors. This increase was largely fueled by BlackRock’s iShares Bitcoin Trust (IBIT), which recorded $565.7 million in inflows and outperformed all other funds in the market.
BlackRock IBIT Inflows Lead Early-Week Buying
Early in the week, US Bitcoin ETFs attracted significant interest, tallying approximately $1.07 billion in inflows over the first three trading sessions. October 19 proved especially strong, with the sector posting $526.7 million in net inflows. BlackRock’s IBIT led the way, contributing the bulk of this amount.
The pace of investments slowed on Tuesday, with total inflows tapering to $23.2 million. IBIT maintained its lead, bringing in an additional $29.9 million. Fidelity’s FBTC saw $3.6 million in new money, but Bitwise’s BITB offset part of the gains with outflows of $10.3 million.
Trading rebounded on October 21, the second busiest day of the week, as inflows climbed to $524.8 million. Once again, IBIT led the inflows at $235 million, closely followed by FBTC with $212.7 million. Grayscale’s GBTC and Bitwise’s BITB contributed $32.6 million and $19.2 million, respectively, with smaller sums distributed among ARK 21Shares’ ARKB, Franklin Templeton’s EZBC, and Grayscale’s Bitcoin Mini Trust.
Mini dictionary: BlackRock is a global asset management company, and its IBIT product is a spot Bitcoin exchange-traded fund that allows investors to gain exposure to bitcoin price movements without directly holding the asset.
Rival Bitcoin ETFs Face Heavy Midweek Withdrawals
After an initial rush of inflows, the trend reversed midweek. On Thursday, October 22, five competing Bitcoin ETFs collectively recorded $635.6 million in outflows. IBIT led the withdrawals with a $254.1 million net exit, while FBTC and ARKB followed, losing $217.5 million and $109.4 million, respectively.
Friday saw a further $137.9 million in net outflows across the sector. IBIT reported withdrawals of $110.3 million, with FBTC seeing $31.8 million in exits. Morgan Stanley’s MSBT registered $4.2 million in new inflows, partially offsetting the losses for the day. Certain funds, such as VanEck’s HODL, had not updated their totals as of October 24, leaving final Friday figures incomplete.
During the week, BlackRock’s IBIT managed to offset sector-wide losses, finishing with $565.7 million in net inflows—accounting for the entire net gain of $301.2 million across US spot Bitcoin ETFs.
Despite two sessions of substantial exits, IBIT’s strong performance earlier in the week ensured the overall segment remained in positive territory. Funds like FBTC and ARKB, however, faced notable headwinds.
| IBIT (BlackRock) | +565.7 |
| FBTC (Fidelity) | -116.6 |
| ARKB (ARK 21Shares) | -99.6 |
| GBTC (Grayscale) | -51.8 |
| BITB (Bitwise) | Mixed |
IBIT Ends a Two-Week Bitcoin ETF Outflow Streak
For the week, FBTC stood out with the highest net outflows of $116.6 million, followed by ARKB with $99.6 million and GBTC with $51.8 million in losses. By contrast, IBIT’s single-day withdrawal on Friday represented only about 0.17% of its $65.88 billion in net assets.
Despite the recent turbulence, the week marked a recovery for US spot Bitcoin ETFs, which had previously seen $678.9 million in net outflows during the week starting October 5, and another $228.4 million in the following week. The latest inflow recovered roughly a third of the $907.3 million drawdown sustained over that period.
Analysts monitoring ETF movements noted that the overall sector can register positive net inflows even if most tickers are in the red, as a dominant product is capable of balancing the market with sustained buying pressure.
The week highlights that a single fund, such as IBIT, can single-handedly keep the entire US spot Bitcoin ETF market in the green, even when many competitors are facing redemptions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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