BlackRock’s iShare Bitcoin Trust (IBIT) observed its first daily net inflow in three weeks, resulting in US spot Bitcoin ETFs experiencing a combined net inflow of $12.8 million, as confirmed by Farside Investors' data. This marks a significant moment for BlackRock, which entered the Bitcoin ETF space when the SEC approved IBIT in January 2024.
Known as the world’s largest asset manager with $9 trillion in asset-under-management (AUM), BlackRock’s entry injected enthusiasm and institutional approval into the nascent crypto ETF ecosystem. On the day of this significant inflow, IBIT attracted $15.8 million, marking the first occurrence since August 26, 2024.
This positive shift helped the wider US spot Bitcoin ETF market, which saw a combined net inflow of $12.8 million. In contrast, other notable Bitcoin ETFs had a mix of inflows and outflows, with Grayscale’s GBTC witnessing a net daily outflow of $20.8 million due to its high fee of 1.5%.
Among US-based spot Bitcoin ETFs, IBIT leads with a cumulative net inflow of $20.9 billion since its inception. Other ETFs like FBTC, ARKB, and BITB also contributed to the trend with notable inflows. Meanwhile, spot Ethereum ETFs faced a combined net outflow of $9.4 million, reflecting their underperformance compared to Bitcoin ETFs.
Ethereum ETFs have struggled since their approval in May 2024, which is evident in Ethereum's lagging price performance. Grayscale’s Ethereum ETF (ETHE) registered a significant net outflow, while smaller products like Grayscale’s mini Ethereum ETF managed modest net inflows.
