Bitcoin ETFs just saw their biggest day in a month thanks entirely to BlackRock
BlackRock's IBIT Bitcoin ETF recorded its largest daily inflow since October, driving a significant recovery for the sector despite outflows from other funds. Conversely, Ether-based ETFs experienced a fourth consecutive day of net withdrawals, led by outflows from BlackRock's own ETHA product.
Why it matters
The data highlights a growing divergence in institutional investor sentiment between Bitcoin and Ethereum, while underscoring BlackRock's dominant influence on market liquidity.
IBIT pulled in $665.2 million, its biggest daily inflow since Oct. 7 last year, according to SoSoValue data . Combined, the bitcoin funds last drew more on Sept. 22, when they added $714.7 million.
Fidelity’s FBTC lost $83.6 million, while Grayscale’s GBTC shed $54.9 million in Monday’s trading session, while the remaining funds recorded no net flows, underscoring how concentrated buying was.
The inflow more than erased last week’s $228.5 million of withdrawals, though the funds remain about $90.5 million in the red for October, according to CoinDesk calculations using SoSoValue’s figures.
Ether funds moved in the opposite direction, losing $103.3 million in their fourth consecutive session of outflows. BlackRock’s ETHA accounted for $95.4 million of the withdrawals, according to SoSoValue.
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