BlackRock’s bitcoin ETF inflows halt after 71-day streak, data shows

The iShares Bitcoin Trust saw zero flows Wednesday, according to Farside Investors, after seeing $15.5 billion enter the fund in its first 71 days

by Ben Strack /

April 25, 2024 07:58 am

John Hanson Pye/Shutterstock modified by Blockworks

BlackRock’s spot bitcoin ETF had tallied net inflows on every trading day since launching on Jan. 11. That 71-day streak has ended, according to Farside Investors data.

The iShares Bitcoin Trust (IBIT) saw zero net flows on Wednesday — shattering an unprecedented record for a newly launched ETF.

While IBIT’s run was historic for a fund new to the market, according to Bloomberg Intelligence analyst Eric Balchunas, others had longer streaks after establishing themselves over months and years on the market.

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IBIT extended its inflow streak to 71 days on Tuesday, marking the 10th-longest streak of all-time, Balchunas said in an X post.

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But data by London-based asset manager Farside Investors showed that net inflows into IBIT had ceased on Wednesday.

Only the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Ark 21Shares Bitcoin ETF (ARKB) saw slight inflows on the day, while the Grayscale Bitcoin Trust ETF (GBTC) tallied net outflows of $130 million.

The end of IBIT’s streak comes after two straight weeks of net outflows for the 11-fund segment.

Still, net inflows into the 11-fund category stand at $12.3 billion in their three-plus months of trading. IBIT alone has gathered about $15.5 billion in positive net flows to mostly offset GBTC’s nearly $17 billion of bleeding.

The net money entering IBIT amounted to about 20% of BlackRock’s total ETF net inflows during the year’s first quarter.

IBIT’s assets under management stood at roughly $17.6 billion, according to BlackRock’s website. That is second in the bitcoin ETF category to GBTC, which has nearly $19.4 billion.

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