BlackRock's iShares Bitcoin Trust (IBIT) jumped nearly 6% in a day on roughly $300 million in net inflows, again exceeding the entire US spot Bitcoin ETF category's net inflow for the day. The fund's assets under management have reached an estimated $60 billion, roughly 60% of the entire category.
BlackRock's iShares Bitcoin Trust surged nearly 6% on the day, fueled by roughly $300 million in daily net inflows, extending its run as the dominant force among US spot Bitcoin ETFs.
IBIT outpaces its own category
On August 27, the fund pulled in $277.6 million in net inflows, a figure that exceeded the entire US spot Bitcoin ETF category's net inflow of $242 million that same day. That math works only because competing funds saw outflows, so IBIT did not just lead the category — it absorbed more money than the category gained as a whole.
The pattern repeated on September 2. IBIT attracted $115.4 million a day after the broader category posted a $236.5 million outflow. The category's total for September 2 landed at $101.1 million in net inflows, with IBIT accounting for more than the category's entire net gain.
A month of category-leading flows
August as a whole was strong across the board: total category inflows reached approximately $3.5 billion, and IBIT captured somewhere between 70% and 90% of total flows during peak periods. Cumulative net inflows since the fund's January 2024 launch now exceed $63 billion.
The entire US spot Bitcoin ETF category's AUM has approached $97 billion to $100 billion, meaning IBIT alone accounts for roughly 60% of the whole pie. BlackRock manages over $10 trillion across its platform. Competitors like Fidelity's FBTC and Ark 21Shares' ARKB have attracted meaningful flows of their own, but neither has come close to challenging IBIT's dominance on a sustained basis.
Bitcoin's structural demand floor
Bitcoin's price has been hovering in the mid-to-high $70,000s during this period. The sustained ETF inflows provide a structural demand floor that did not exist in prior market cycles, when institutional investors seeking Bitcoin exposure had to navigate custody solutions, futures contracts, or trust vehicles trading at persistent premiums or discounts to net asset value.
Source: Crypto Briefing
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