BlackRock's IBIT Attracts $1 Billion as Bitcoin Pulls Back

BlackRock's spot Bitcoin exchange-traded fund (ETF), IBIT, saw massive inflows of $1.02 billion over four consecutive trading sessions, from September 17 to 22.

The influx of funds into IBIT continued even as Bitcoin temporarily retreated from its intraday high near $87,283 to around $84,175, marking a 2.35% loss on the day.

This suggests that demand through regulated funds remains strong despite short-term profit-taking. In total, US spot Bitcoin ETFs attracted $2.31 billion in the four sessions of inflows, with IBIT accounting for 44% of the flow.

The inflows indicate that investors are using IBIT as a preferred route into the market to gain exposure to Bitcoin without directly holding it.