BlackRock's IBIT Carried Bitcoin ETFs to a $301 Million Weekly Inflow as Rival Funds Bled
Key Takeaways
- •US spot Bitcoin ETFs recorded a $301 million net inflow for the week of October 19–23, marking the first positive week after two consecutive weeks of withdrawals totaling $907 million.
- •BlackRock's IBIT contributed $565.7 million in net inflows, exceeding the market's entire weekly gain, while all other funds collectively lost $264.5 million.
- •Monday's $526.7 million inflow was driven entirely by IBIT's $665.2 million intake, as Fidelity's FBTC lost $83.6 million and Grayscale's GBTC lost $54.9 million.
- •Thursday's $635.6 million outflow, which hit five funds including ARK's ARKB, erased roughly 72% of the $1.07 billion accumulated during the week's first three sessions.
- •ETF flow data captures only creations and redemptions by authorized participants, meaning outflows do not necessarily indicate Bitcoin was sold on the open market.
US spot Bitcoin ETFs recorded a net inflow of $301 million for the week of October 19–23, with Friday's figures still incomplete, according to Farside Investors' daily flow data reviewed on October 24. BlackRock's iShares Bitcoin Trust (IBIT) supplied nearly all of that money, while every other fund in the lineup shed a combined $264.5 million. It was the first positive week after two consecutive weeks of withdrawals.
Five sessions, one decisive day
Monday's $526.7 million inflow was entirely IBIT's doing: the fund absorbed $665.2 million while Fidelity's FBTC lost $83.6 million and Grayscale's GBTC lost $54.9 million. Wednesday was the only session in which most funds took in money — seven did, led by IBIT at $235.0 million and FBTC at $212.7 million. Thursday reversed course with a $635.6 million outflow that hit five funds, including ARK's ARKB, which alone shed $109.4 million.
Across the week, the first three sessions added $1.07 billion and the final two removed $773.5 million, erasing roughly 72% of that gain.
Without IBIT, the week was negative
IBIT's net inflow of $565.7 million was larger than the market's entire weekly gain, leaving the rest of the group in the red. FBTC lost $116.6 million over five sessions and ARKB dropped $99.6 million. IBIT also led Friday's withdrawals at $110.3 million, though that equaled roughly 0.17% of the $65.88 billion in net assets BlackRock reported as of October 23.
The result still breaks a streak of outflows. Farside's data shows $678.9 million left in the week of October 5 and $228.4 million in the week of October 12, so this week's gain recovered about a third of that $907 million. Fund-level figures show only where the money landed, not who was buying — a limitation that has also shaped how Ethereum ETF totals should be read.
What an outflow does and doesn't tell you
Flow data tracks creations and redemptions: shares issued or retired by authorized participants, the firms that deal directly with each trust. Shares that simply change hands between investors on the exchange are not counted. Since the SEC permitted in-kind creations and redemptions for crypto ETPs in July 2025, those firms can take Bitcoin out of a trust instead of cash, and IBIT's filing for the quarter ended March 31, 2026 records in-kind deliveries. Coins that leave a fund can be sold, held or hedged, and daily flow data does not say which — Thursday's $635.6 million outflow was not necessarily $635.6 million of Bitcoin sold on the market.
The test for next week
- VanEck's Friday figure: the missing HODL entry will finalize the weekly total.
- Breadth of demand: inflows spread across funds, as on Wednesday, would point to wider participation than another week carried by IBIT alone.
- FBTC's direction: the second-largest fund by cumulative inflows lost money this week despite one strong session.
This article is provided for informational purposes only and does not constitute financial or investment advice. ETF flow figures are subject to updates and revisions.
