BlackRock's IBIT Bitcoin ETF Sees $430M Outflow, Ending Record 34-Day Inflow Streak

BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot Bitcoin ETF globally, has ended its longest inflow streak yet. On Friday, the fund recorded a massive $430 million in outflows—its first daily loss in over a month—marking a sharp shift in sentiment as Bitcoin’s price retreats from recent highs.

According to data from SoSoValue, the U.S. spot Bitcoin ETF market collectively saw $616 million in outflows that day, making it the worst trading session for these products since late February. Bitcoin’s price has dropped roughly 4% over the past five days, contributing to the pullback.

A Market Leader, Despite the Drop

Even with Friday’s outflow, IBIT remains firmly ahead of the competition. The fund currently manages $69.2 billion in assets—more than three times the size of its closest rival, Fidelity’s FBTC, which sits at $20.8 billion. IBIT holds 3.33% of all Bitcoin in circulation, while FBTC accounts for just 1%.

IBIT’s trading dominance is equally striking. It regularly captures around 80% of all volume in the U.S. Bitcoin ETF space, maintaining a commanding lead over other funds. Just a day before the outflows, IBIT was the only fund among its peers to record net inflows, breaking a 10-day collective inflow streak.

Institutional Surge Behind Previous Gains

Bloomberg ETF analyst Eric Balchunas noted the unusually large gap between IBIT and other Bitcoin ETFs, suggesting institutional investors may be behind the fund’s recent surge.

“Normally IBIT takes in 70% of the net inflows, but lately it’s been over 100%,” Balchunas wrote on X. “My theory: the latest rally was more an institutional buying spree than retail.”

Nate Geraci, president of The ETF Store, also highlighted the speed and scale of IBIT’s growth. “IBIT now pushing $70 billion in assets in under 17 months since launch… Not sure I have words to describe how ridiculous this is,” he posted.