BlackRock’s IBIT dominates 10-day US Bitcoin ETF inflow streak totaling $4.2 billion

The U.S. spot Bitcoin exchange-traded funds’ latest inflow streak continued on May 28 as the now 10-day consecutive run reached $4.26 billion.

The Bitcoin ETFs brought in $432.7 million on Wednesday, according to data compiled by The Block. BlackRock’s IBIT attracted $481 million, representing the only inflows for the day. Meanwhile, Ark Invest’s ARKB and Fidelity’s FBTC witnessed net outflows of $34.3 million and $14 million, respectively, and the remaining funds generated zero flows.

Of the 10-day streak for the combined funds, IBIT represented $4.09 billion or 96% of the net inflows alone — continuing to assert its dominance on a market that has brought in $45.6 billion since its inception in January 2024. In fact, IBIT’s $49 billion since debut exceeds that, with $23.1 billion worth of net outflows from Grayscale’s converted and higher-fee GBTC fund eclipsing inflows from the other Bitcoin ETFs.

IBIT’s 33-day run

IBIT is now on a 33-day run of its own, recording no net outflows since April 9, though it has witnessed three zero flow days during that time. Nevertheless, that 33-day streak accounts for a substantial $9.31 billion worth of inflows, with the BlackRock Bitcoin ETF’s assets under management now totaling $72 billion, according to The Block’s IBIT tracker page.

“Another nearly *$500mil* into iShares Bitcoin ETF…Starting to get ridiculous. Inflows of 30 of the past 31 days. Nearly $9.5bil in new $$$. IBIT comfortably in top 5 ETFs by inflows this year (out of 4,200+ ETFs),” The ETF Store President, Nate Geraci, said on Thursday. “I remember when people thought top end for spot BTC ETF category *overall* was < $10bil. IBIT has done this in a month,” Geraci noted earlier on Wednesday.

“IBIT on fire lately, now has $72b in assets, which ranks it 23rd overall, absolutely bonkers for a one-year-old. The next youngest ETF in the top 25 is 12 years old!” Bloomberg Senior ETF Analyst Eric Balchunas responded. IBIT recently entered the top five of all ETFs by year-to-date flows after going “Full Pac-Man” during the past month, Balchunas noted last week.

Trading volumes remain elevated

Trading volume for the U.S. spot Bitcoin ETFs also remains elevated after logging its highest activity for the year last week, with over $25 billion in value changing hands as bitcoin hit a new all-time high of $112,000. The foremost cryptocurrency is currently trading for $108,492, according to The Block’s Bitcoin Price page.

The ETFs notched up another $3.4 billion in trading volume on Wednesday, unsurprisingly again dominated by IBIT’s $2.6 billion as it closes in on 80% market share by that metric.

Meanwhile, the U.S. spot Ethereum ETFs registered $84.9 million worth of net inflows on Wednesday, led by BlackRock’s ETHA with $52.7 million. Fidelity’s FETH, Grayscale’s ETH, and Invesco’s QETH also brought in $25.7 million, $4.9 million, and $1.6 million, respectively, with the Ethereum ETFs generating $446.9 million in overall trading volume.

The spot Ethereum ETFs’ own positive run is now in its eighth day, totaling $394.1 million, with total cumulative flows reaching $2.9 billion.

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