BlackRock’s IBIT leads US spot Bitcoin ETFs with hundreds of millions in inflows

Institutional investors have been quietly making up their minds about Bitcoin, and the answer, at least for the past week, has been yes. US spot Bitcoin and Ether ETFs together pulled in approximately $452 million in net inflows on September 23, extending a streak that has become one of the more consequential stretches of ETF flow data in recent memory. BlackRock’s iShares Bitcoin Trust, known by its ticker IBIT, sat at the front of that parade. The fund has been the consistent leader throughout this inflow window, drawing $381.4 million on September 21 and $350.3 million on September 22, cementing its position as the gravitational center of institutional Bitcoin exposure in the US market. From outflows to a $2B-plus reversal Context makes these numbers more interesting. Just days before the streak began, Bitcoin ETFs were bleeding: roughly $746 million in net outflows hit across September 15 and 16. What followed was a swift about-face. The four-day inflow streak running through September 22 accumulated somewhere between $2.1 billion and $2.3 billion in net new money. Bitcoin’s price held relatively steady through this stretch, trading in the $84,000 to $87,000 range. Total assets...