BlackRock just pulled in 115% of all Bitcoin ETF inflows in a single day as rival funds bleed cash

BlackRock’s iShares Bitcoin Trust (IBIT) pulled in more money than the entire US Bitcoin exchange-traded fund (ETF) market gained on Aug. 27.IBIT attracted $277.6 million during the trading session, while US spot Bitcoin ETFs collectively recorded $242.3 million in net inflows, according to Farside Investors data. That means BlackRock’s fund accounted for roughly 115% of the market’s net result.The notable gap came from redemptions elsewhere. Fidelity’s FBTC lost $83.6 million, and Grayscale’s GBTC shed $27.2 million, producing $110.8 million of combined outflows.Meanwhile, smaller products offset part of that pressure. Bitwise’s BITB, ARK 21Shares’ ARKB, VanEck’s HODL, MSBT and Grayscale’s lower-fee BTC fund attracted a combined $75.5 million.Even after those inflows, every fund outside IBIT collectively finished the session with a $35.3 million net outflow.BlackRock’s dominance extends beyond a single sessionThe $242 million overall inflow extended the broader Bitcoin ETF market’s positive streak to nine consecutive trading sessions while underlining how the run has depended heavily on BlackRock.That dependence extends beyond a single session. Of the roughly $3.05 billion that US...