IBIT ETF Sees Record Inflows as Institutional Demand for Bitcoin Surges

BlackRock's IBIT ETF experienced a significant surge in inflows on September 3, capturing $454 million in net inflows. This accounted for 62% of the total US spot Bitcoin ETF inflows that day, which reached $730.8 million.

This massive influx was more than triple the size of any single-day recorded during an 11-session run of positive flows through late August. The IBIT fund saw a net withdrawal of $236 million on September 1, shedding $201 million alone.

The total US Bitcoin ETF market reached $103.34 billion in net assets, which is about 6.32% of Bitcoin's entire market capitalization. This follows a three-week run where US spot Bitcoin ETFs pulled in $3.8 billion in net inflows and an August rally that saw US Bitcoin ETFs collect $1.92 billion across five trading sessions ending August 21.

IBIT's competitor, Fidelity's FBTC, holds $13.41 billion in assets under management compared to IBIT's $59.75 billion. The two funds have identical expense ratios at 0.25%, but IBIT uses Coinbase for custody while FBTC uses its own Fidelity Digital Assets business.