One day undid an entire week of bitcoin ETF bleeding.
BlackRock's IBIT pulled in $665.2 million on Monday — roughly 3x the total outflows US spot bitcoin ETFs suffered across all of last week ($228.4M). One fund, one session, whole week erased.
The rest of the category barely participated: Fidelity's FBTC lost $83.6M, Grayscale's GBTC shed $54.9M. The day still finished with a combined net inflow of roughly $527M across US spot bitcoin ETFs, per SoSoValue data — nearly all of it IBIT.
Why it matters: this is the concentration problem in reverse. A single fund's flow day flipped the entire category green, which tells you how much of current "institutional demand" is really one desk's decision. And the tape didn't care: BTC sat near $82.1K, down about 0.8% on the day. One inflow day is not a trend.
If IBIT takes one day off, does the whole recovery story go with it? NFA. DYOR.
$BTC #ETF
BlackRock's IBIT pulled in $665.2 million on Monday — roughly 3x the total outflows US spot bitcoin ETFs suffered across all of last week ($228.4M). One fund, one session, whole week erased.
The rest of the category barely participated: Fidelity's FBTC lost $83.6M, Grayscale's GBTC shed $54.9M. The day still finished with a combined net inflow of roughly $527M across US spot bitcoin ETFs, per SoSoValue data — nearly all of it IBIT.
Why it matters: this is the concentration problem in reverse. A single fund's flow day flipped the entire category green, which tells you how much of current "institutional demand" is really one desk's decision. And the tape didn't care: BTC sat near $82.1K, down about 0.8% on the day. One inflow day is not a trend.
If IBIT takes one day off, does the whole recovery story go with it? NFA. DYOR.
$BTC #ETF