BlackRock Sucks Up 115% of Bitcoin ETF Inflows as Rivals Bleed Cash

BlackRock's iShares Bitcoin Trust (IBIT) has been dominating the US Bitcoin exchange-traded fund (ETF) market, pulling in a significant portion of all inflows in recent days. According to Farside Investors data, on Aug. 27, IBIT attracted $277.6 million, while the entire US spot Bitcoin ETF market recorded a net inflow of $242.3 million.

This means that BlackRock's fund accounted for approximately 115% of the market's net result. In contrast, rival funds like Fidelity's FBTC and Grayscale's GBTC experienced significant redemptions, shedding a combined $110.8 million. Smaller products, however, managed to attract some inflows, bringing in a total of $75.5 million.

The dominance of IBIT extends beyond a single session. During the nine-day streak of positive inflows since Aug. 17, BlackRock's fund has supplied about $2.3 billion, or 75.6% of the total $3.05 billion that US Bitcoin ETFs have attracted.

IBIT has accumulated around $63 billion in net inflows and manages approximately $62 billion in assets. The broader US spot Bitcoin ETF market has generated about $54.8 billion in cumulative net inflows and holds roughly $100.9 billion in assets.