BlackRock’s Bitcoin Trust Faces Outflows, While Other Bitcoin ETFs See Inflows

On September 9, BlackRock’s iShares Bitcoin Trust (IBIT) experienced $9 million in net outflows, marking its third consecutive day of withdrawals since its debut in January.

However, net flows into US spot Bitcoin ETFs saw a positive reversal, ending an eight-day streak of outflows, per recent data.

The IBIT outflow on Monday followed a similar withdrawal on August 29 and a short period of no activity in early September. Despite this, the fund has generally seen steady inflows, amassing nearly $21 billion and holding over 350,000 Bitcoin. The first significant outflow occurred on May 1, when $37 million was withdrawn.

On the same day, the Fidelity Wise Origin Bitcoin Fund (FBTC) attracted over $28 million, bringing its total net inflows to nearly $9.5 billion after eight months. Additionally, the Bitwise Bitcoin ETF (BITB) garnered $22 million, and the ARK 21Shares Bitcoin ETF (ARKB) saw about $7 million in net capital, with the Invesco Galaxy Bitcoin ETF (BTCO) gaining around $3 million.

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Conversely, the Grayscale Bitcoin Trust (GBTC) lost nearly $23 million on Monday, continuing a trend of asset reduction. Since converting to an ETF, GBTC has seen $20 billion in outflows, shrinking its assets from over 620,000 Bitcoin to roughly 222,700 Bitcoin, a 60% decrease.

Overall, US spot Bitcoin ETFs recorded over $28 million in net inflows on Monday.

Alexander Stefanov