BlackRock drives Bitcoin ETF inflow rebound
- US spot Bitcoin ETFs ended a five-day outflow streak with a net daily inflow of US$8.1 million.
- BlackRock's iShares Bitcoin Trust recorded strong inflows that offset withdrawals from other funds.
- The data showed demand remained uneven across Bitcoin ETF issuers.
US spot Bitcoin (CRYPTO:BTC) exchange-traded funds recorded a net inflow of US$8.1 million, ending five straight trading days of net outflows that totalled more than US$500 million.
The recovery came as BlackRock's iShares Bitcoin Trust attracted fresh investment while several competing funds continued to record net withdrawals.
According to the reported fund flow data, BlackRock's inflows were enough to offset outflows from other issuers, resulting in a modest positive total for the day.
The figures suggest investor demand remained concentrated in BlackRock's ETF rather than spread across the broader US spot Bitcoin ETF market.
US spot Bitcoin ETFs began trading in January 2024 and allow investors to gain exposure to Bitcoin through regulated stock market products.
The latest flows highlight that investor sentiment towards Bitcoin ETFs remains mixed, with overall market demand continuing to depend on activity across individual fund providers.
At the time of reporting, Bitcoin price was $64,321.26.
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