Eight weeks of relentless selling, and then, quietly, a turn. U.S. spot Bitcoin ETFs pulled in $79.15 million in net inflows on July 16, with BlackRock’s iShares Bitcoin Trust leading the charge.
The market had been grinding through more than $8 billion in cumulative outflows before this reversal.
IBIT does what IBIT does
BlackRock’s IBIT holds the largest cumulative inflows and the highest assets under management of any Bitcoin ETF in the U.S. market, and July 16 was no different, with IBIT accounting for the bulk of the day’s positive flows.
These products launched in January 2024 and almost immediately became the fastest-growing ETF category in history. IBIT specifically has consistently outpaced competitors, including Fidelity’s FBTC, on both inflow volume and total AUM.
