BlackRock's iShares Bitcoin Trust (IBIT) took in $195.6 million in net inflows on Oct. 1, carrying U.S. spot Bitcoin exchange-traded funds to a combined net inflow of $102.7 million for the session.

The single-day figures underline how heavily demand was concentrated in BlackRock's fund: IBIT's daily haul exceeded the category-wide result because several rival products recorded withdrawals at the same time. According to data tracked by TFTC, IBIT's Bitcoin purchases reached about $1.57 billion over the past month, extending a broader stretch of renewed demand for U.S. spot Bitcoin ETFs.

A Split Session Across ETFs

IBIT's $195.6 million gain stood in sharp contrast to outflows elsewhere. Fidelity's FBTC posted a $60.7 million withdrawal, and Grayscale's GBTC shed $31.4 million. Smaller redemptions hit other products as well:

• FBTC: $60.7 million outflow
• GBTC: $31.4 million outflow
• ARKB: $7.7 million outflow
• BITB: $6.9 million outflow

Those combined redemptions offset much of IBIT's buying, leaving the entire U.S. spot Bitcoin ETF market with a net gain of just $102.7 million for the day. That fund-level visibility is a feature of the ETF structure itself: creations and redemptions are tallied and published each trading day, so divergence between individual funds shows up in daily flow reports rather than staying buried in the category-wide total.

Institutional Demand Stays Concentrated

The numbers illustrate how sharply individual fund flows can diverge even when the wider ETF category ends the session in positive territory. IBIT — which debuted in January 2024, when the SEC first approved U.S. spot Bitcoin ETFs — remains a leading vehicle for investors seeking Bitcoin exposure through a regulated exchange-traded product. According to BlackRock, the fund is designed to reflect the price performance of Bitcoin and provides that exposure without requiring investors to hold the asset directly.

The month of heavy accumulation coincides with renewed attention on Bitcoin across financial markets. Reuters reported this week that Citigroup raised its 12-month Bitcoin price forecast to $113,000, pointing to stronger crypto activity, favorable macroeconomic conditions and a return of ETF inflows.

For observers tracking Bitcoin demand, the latest ETF data offer a clear picture of where buying pressure was concentrated, and the coming sessions' flow reports will show whether that concentration holds or assets migrate back toward rival funds. Daily flows can shift quickly, however, and net inflows alone do not determine the direction of Bitcoin's price.