BlackRock's IBIT Bitcoin Spot ETF ended its 34-day record for net inflows, with $430 million flowing out in a single day

BlackRock's IBIT, the world's largest bitcoin spot ETF, saw $430 million in outflows on Friday, ending a 34-day streak of net inflows (three of which were zero). During the same period, the overall net outflow of all bitcoin spot ETFs in the US stock market reached $616 million, the largest single-day outflow since February 26. The background is that the price of BTC fell by about 4% in five days.
Despite the outflows, IBIT's market dominance remains solid, with $69.20 billion in assets under management, which is about 3.3 times that of Fidelity's FBTC ($20.80 billion). As of now, IBIT accounts for 3.33% of total Bitcoin circulation, far exceeding 1% of FBTC. Data show that IBIT's share of trading volume in all Bitcoin ETFs remains around 80%.
Eric Balchunas, ETF analyst at Bloomberg, noted that IBITs recently accounted for "more than 100 per cent" of all fund inflows, suggesting that the market has been driven more by institutions than by retail enthusiasm. Nate Geraci, president of the ETF Store, commented: "In less than 17 months, IBIT assets are approaching $70 billion, which is unbelievable."