BlackRock Bitcoin ETF Sees First Inflow in 3 Weeks: Details from U.Today

BlackRock’s spot exchange-traded fund (ETF), known as the iShares Bitcoin Trust (IBIT), has recorded its first inflow in three weeks, totaling $15.8 million. This significant inflow has helped revitalize the ETF market.

### BlackRock Leads in Net Inflows

Recent data indicates that BlackRock’s IBIT is at the forefront of net inflows among its competitors, with its $15.8 million inflow leading the pack. Other asset managers to report positive inflows include Fidelity, with $5.1 million, Franklin Templeton, VanEck, and Grayscale, which attracted net inflows of $5 million, $4.9 million, and $2.8 million, respectively.

Prior to this recent inflow, BlackRock experienced a challenging period with 11 consecutive days of zero inflows and two days of net outflows—its longest dry spell to date. Despite these challenges, IBIT continues to dominate the spot Bitcoin ETF market.

Since the beginning of the year, BlackRock has accumulated a remarkable $20.9 billion in net inflows, significantly outpacing Fidelity, which ranks second with $9.6 billion in net inflows for its Bitcoin ETF (FBTC).

On September 16, other competitors in the spot Bitcoin ETF sector largely reported zero inflows, with the sole exception of Grayscale, which experienced outflows of $20.8 million. Grayscale has the highest fee in the sector at 1.5%, which many experts believe contributes to its ongoing sell-off.

### Market Sentiment and Bitcoin Price Resistance

Despite Grayscale’s substantial outflows, the overall Bitcoin ETF market closed positively, recording $12.8 million in net inflows, largely thanks to BlackRock’s contributions. The iShares Bitcoin Trust has set a new benchmark in inflows.

As of now, Bitcoin is trading at approximately $59,086, reflecting a 0.68% increase over the past 24 hours. Although the cryptocurrency has enjoyed positive market sentiment lately, it has yet to break through the $60,000 barrier.