BlackRock’s IBIT, the largest spot Bitcoin ETF in the world, has broken its impressive 34-day inflow streak, posting $430 million in outflows on Friday. This marks the fund’s worst day since February 26 and comes amid a 4% drop in Bitcoin’s price over the last five days.
IBIT Still Dominates Bitcoin ETF Market
Despite the recent setback, BlackRock’s iShares Bitcoin Trust (IBIT) maintains its dominant position in the Bitcoin ETF space. As of Friday, IBIT holds $69.2 billion in assets under management (AUM)—more than three times larger than its closest competitor, Fidelity’s FBTC, which manages $20.8 billion.
IBIT alone holds 3.33% of all Bitcoin in circulation, while FBTC accounts for 1%, according to SoSoValue data.
IBIT also consistently accounts for around 80% of the total trading volume across all U.S.-based spot Bitcoin ETFs, underscoring its market leadership.
Wider ETF Market Sees $616 Million in Outflows
BlackRock’s $430 million in outflows were part of a broader trend across the U.S. spot Bitcoin ETF market. In total, ETFs shed $616 million on Friday, as Bitcoin pulled back from its all-time highs.
This marks the end of a 10-day collective inflow streak for Bitcoin ETFs. Interestingly, IBIT was the only fund to report net inflows on Thursday, suggesting a strong institutional preference for BlackRock’s product.
Analysts Weigh In on the Flow Shift
Bloomberg ETF analyst Eric Balchunas commented on the divergence, noting:
“The IBIT vs Everyone Else flow disparity is interesting. Normally IBIT takes in 70% of the net inflows but lately it’s over 100%. My theory: the latest rally was more an institutional buying spree than retail.”
Nate Geraci, President of the ETF Store, also highlighted the fund’s growth:
“IBIT now pushing $70 billion in assets in less than 17 months since launch… Not sure I have words to describe how ridiculous this is.”
Conclusion
The $430 million outflow from IBIT may signal a short-term cooling in Bitcoin demand amid market volatility, but its massive AUM and continued dominance suggest long-term confidence, particularly from institutional investors.
IBIT’s growth trajectory and trading volume share continue to reinforce its position as the go-to Bitcoin ETF for large-scale capital allocation.