BlackRock and Fidelity tighten grip on Bitcoin ETFs
BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund are increasingly dominating the US spot bitcoin ETF market as institutional investors concentrate allocations into the sector's largest products.
Data from 2026 shows IBIT and FBTC consistently accounted for the majority of new capital entering spot bitcoin ETFs, with the two funds frequently capturing more than two-thirds of total daily inflows and, in some cases, more than 90%.
On January 14, bitcoin ETFs attracted US$840.6 million in net inflows, with IBIT accounting for US$648.4 million and FBTC adding US$125.4 million, representing more than 90% of all new money entering the sector.
The concentration has persisted despite bitcoin falling roughly 29% year-to-date and multiple periods of heavy ETF redemptions, with both funds often acting as stabilising forces while competing products experienced outflows.
BlackRock's scale and distribution network, combined with Fidelity's strong presence among retail and institutional investors, have made IBIT and FBTC the preferred vehicles for financial advisers, hedge funds, family offices and institutional allocators seeking bitcoin exposure.
Meanwhile, smaller products including Franklin Templeton's EZBC, VanEck's HODL, Valkyrie's BRRR and WisdomTree's BTCW have generally recorded comparatively modest inflows, limiting their influence on overall market direction.
The trend has also affected former challengers such as Bitwise's BITB and Ark's ARKB, while Trump Media & Technology Group recently withdrew plans for a spot bitcoin ETF amid intensifying competition.
The market increasingly resembles a winner-take-most industry where liquidity, trading volume and issuer reputation drive allocation decisions, leaving BlackRock and Fidelity with growing influence over the direction of bitcoin ETF flows.
At the time of reporting, Bitcoin price was $62,614.44.
