BlackRock Dominates Bitcoin ETF Inflows Ahead of Fed Meeting
The US spot Bitcoin exchange-traded funds (ETFs) have seen a return to inflows, but the recovery is concentrated in BlackRock and Fidelity. The funds pulled in a net $159.9 million on September 14, erasing only about 35% of the losses from the previous four sessions that had removed $462.7 million from the market.
BlackRock's iShares Bitcoin Trust (IBIT) accounted for $134.3 million of the inflows, while Fidelity's Wise Origin Bitcoin Fund (FBTC) added $53.3 million. Together, these two funds attracted more than the market's overall net total due to selling elsewhere offsetting part of the demand.
The ARK 21Shares Bitcoin ETF (ARKB) recorded $42 million in outflows, while Franklin Templeton's EZBC and Morgan Stanley's MSBT added $4.6 million and $9.7 million respectively. Most other funds reported no net movement.
The concentration of demand around IBIT is consistent with a longer trend, as the fund has added about $1.08 billion worth of Bitcoin over the past 20 days, with positive flows on seven of those sessions. This underlines how ETF demand has become increasingly uneven across issuers.