Yesterday, U.S. spot Bitcoin ETFs saw total net inflows of $190.7 million. Of this, BlackRock’s IBIT alone accounted for $162.6 million, or 85%. Fidelity’s FBTC brought in $12.9 million, Morgan Stanley’s MSBT $10.2 million, Franklin’s EZBC $4.9 million, and Bitwise’s BITB $4.1 million.
Ethereum spot ETFs recorded net inflows of $66.1 million, but no specific breakdown was provided.
What’s worth paying attention to isn’t the total amount, but the structure. The $190 million figure is almost entirely contributed by IBIT alone; the other four combined are under $30 million. Morgan Stanley’s MSBT making it into the tens-of-millions range counts as incremental growth, but based on single-day data, it’s hard to judge whether that momentum is sustainable.
Next, we’ll look at the data for September 25: whether MSBT continues to see net inflows, and which firm is driving that $66.1 million in Ethereum. If IBIT continues to dominate on its own, then this round of ETF net inflows reflects more of BlackRock’s channel-harvesting capability than a broader market demand spreading out.
Ethereum spot ETFs recorded net inflows of $66.1 million, but no specific breakdown was provided.
What’s worth paying attention to isn’t the total amount, but the structure. The $190 million figure is almost entirely contributed by IBIT alone; the other four combined are under $30 million. Morgan Stanley’s MSBT making it into the tens-of-millions range counts as incremental growth, but based on single-day data, it’s hard to judge whether that momentum is sustainable.
Next, we’ll look at the data for September 25: whether MSBT continues to see net inflows, and which firm is driving that $66.1 million in Ethereum. If IBIT continues to dominate on its own, then this round of ETF net inflows reflects more of BlackRock’s channel-harvesting capability than a broader market demand spreading out.