Bitcoin ETFs Log Biggest Daily Inflow in a Month, All From BlackRock's IBIT

BlackRock's IBIT pulls in $665.2 million in a single day

U.S. spot bitcoin exchange-traded funds took in $526.6 million on Monday, their largest daily net inflow in nearly a month. An ETF is a fund that trades on a stock exchange, and a spot bitcoin ETF holds actual bitcoin.

The gain came entirely from BlackRock's iShares Bitcoin Trust (IBIT), which brought in $665.2 million, according to SoSoValue data. CoinDesk said that was IBIT's biggest daily inflow since Oct. 7 of last year.

The last time the bitcoin funds together took in more was Sept. 22, when they added $714.7 million.

Fidelity and Grayscale funds post withdrawals

• Fidelity's FBTC lost $83.6 million.
• Grayscale's GBTC shed $54.9 million.
• The remaining funds recorded no net flows, which CoinDesk said shows how concentrated the buying was.

October still shows a net loss

Monday's inflow was larger than the $228.5 million of withdrawals the funds saw the previous week. Even so, CoinDesk calculated, using SoSoValue's figures, that the funds remain about $90.5 million in the red for October.

Ether funds fall for a fourth straight session

Ether funds went the other way, losing $103.3 million in their fourth consecutive session of outflows. BlackRock's ETHA accounted for $95.4 million of those withdrawals, according to SoSoValue.

What is confirmed

The daily fund flow figures, the comparison with Sept. 22 and last year's Oct. 7, and the October total are based on SoSoValue data cited by CoinDesk. CoinDesk said the October running total is its own calculation from SoSoValue's numbers.

What is not yet clear

The sources do not explain why investors moved money into IBIT and out of FBTC and GBTC on the same day, and the report does not say what future flows will look like.

Sources

• CoinDesk