US spot Bitcoin exchange-traded funds (ETFs) recorded $301.2 million in net inflows for the week ending October 23, primarily driven by BlackRock’s iShares Bitcoin Trust (IBIT), according to data from Farside Investors. While IBIT generated $565.7 million in net inflows, several competitors posted net outflows, highlighting IBIT’s dominant role in the segment’s weekly gains.
BlackRock IBIT drives early weekly momentum
In the first three trading days of the week, spot Bitcoin ETFs in the US collectively attracted approximately $1.07 billion. On October 19, the sector saw net inflows of $526.7 million, with IBIT as the sole contributor to this tally.
Activity slowed on Tuesday, as total net inflows dropped to $23.2 million. IBIT accounted for $29.9 million in purchases, with Fidelity’s FBTC bringing in $3.6 million. However, outflows from Bitwise’s BITB, which lost $10.3 million, eroded some of these gains.
October 21 marked the week’s second-highest inflow day at $524.8 million. IBIT led with $235 million, while FBTC followed at $212.7 million. Grayscale Bitcoin Trust (GBTC) and Bitwise BTC ETF (BITB) contributed $32.6 million and $19.2 million, respectively. Additional assets flowed into ARK 21Shares Bitcoin ETF (ARKB), Franklin Templeton’s EZBC, and Grayscale’s Bitcoin Mini Trust.
Mini dictionary: IBIT (iShares Bitcoin Trust) is BlackRock’s spot Bitcoin ETF, launched to provide investors direct exposure to Bitcoin through traditional equity markets. It is one of the largest and most actively traded spot Bitcoin ETFs in the United States.
| ETF Name | Net Inflows/Outflows (Week, $ million) |
|---|---|
| IBIT (BlackRock) | +565.7 |
| FBTC (Fidelity) | -116.6 |
| ARKB (ARK 21Shares) | -99.6 |
| GBTC (Grayscale) | -51.8 |
| BITB (Bitwise) | N/A |
Midweek reversals for rival funds
After early inflows, several ETFs saw sharp withdrawals on October 22. Five funds experienced combined outflows of $635.6 million. IBIT accounted for $254.1 million of this total, followed by $217.5 million from FBTC and $109.4 million from ARKB.
On October 23, reported net outflows persisted, totaling $137.9 million. IBIT saw $110.3 million withdrawn, with FBTC losing $31.8 million. Morgan Stanley’s MSBT attracted $4.2 million in new investments, which offered only a partial offset. At market close, VanEck’s HODL was still pending its report and not included in the tallies.
IBIT’s strong performance helped keep aggregate net inflows positive, despite heavy midweek outflows from several other funds.
Despite the late-week pressure, BlackRock’s IBIT concluded with $565.7 million net inflows, more than covering the overall sector gain.
Funds recover after consecutive weeks of outflows
Fidelity’s FBTC experienced the highest net outflows among its peers, registering $116.6 million in weekly losses. ARKB followed, shedding $99.6 million, while GBTC declined by $51.8 million. The Friday outflow from IBIT equaled about 0.17% of its $65.88 billion in net assets.
Even with end-of-week exits, the influx at the start offset the downtrend. For context, Bitcoin ETFs collectively lost $678.9 million in the week starting October 5, followed by an additional $228.4 million the following week, totaling $907.3 million. The most recent $301.2 million in inflows restored roughly a third of that outflow.
This recovery highlights how a strong single-fund performance can buoy the entire US Bitcoin ETF market, even as other providers face significant redemptions.
