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Bitcoin ETFs just saw their biggest day in a month thanks entirely to BlackRock
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- DeepHorus
U.S. spot bitcoin exchange-traded funds attracted $526.6 million in net inflows on Monday, the strongest daily total in nearly a month. The gain was driven entirely by BlackRock’s iShares Bitcoin Trust, or IBIT. It marked a sharp reversal from recent weakness and highlighted how concentrated bitcoin ETF demand has become.
IBIT alone pulled in $665.2 million, its largest daily inflow since Oct. 7 last year, according to SoSoValue data. The combined bitcoin ETF category last drew more on Sept. 22, when it added $714.7 million. Monday’s total therefore fell short of that September peak but still topped every session since.
Other major funds moved in the opposite direction. Fidelity’s FBTC lost $83.6 million, while Grayscale’s GBTC shed $54.9 million. The remaining bitcoin funds recorded no net flows, underscoring the narrow base of buying.
The inflow more than erased last week’s $228.5 million of withdrawals. Still, the bitcoin funds remain about $90.5 million in the red for October, based on CoinDesk calculations using SoSoValue figures. That leaves the group dependent on a few large allocators to sustain momentum.
Ether funds told a different story. They lost $103.3 million, their fourth consecutive session of outflows. BlackRock’s ETHA accounted for $95.4 million of the withdrawals, according to SoSoValue.
The divergence matters because it shows institutional appetite rotating toward bitcoin exposure while ether products face persistent redemptions. BlackRock’s scale is also shaping the market: a single fund can now offset outflows across competitors and determine the category’s daily direction. That concentration raises questions about breadth.
For now, bitcoin ETF flows remain volatile and highly issuer-specific. The next test is whether IBIT’s $665.2 million haul draws follow-on demand or proves a one-day spike. Ether funds, by contrast, need a break in their four-session outflow streak to signal renewed investor interest.
