Bitcoin ETF: BlackRock Pulls In $665M Despite Outflows at Fidelity and Grayscale

On October 19, BlackRock’s IBIT fund attracted 665.16 million dollars while the entire American spot bitcoin ETF market only received 526.6 million. The two biggest rivals alone lost the equivalent of the gap. Demand is not returning, it is concentrating. The figures reveal a striking contrast. Alone, IBIT attracted more capital than the entire American spot Bitcoin ETF market. Indeed, the 665.16 million dollars collected by BlackRock exceed by 138.6 million the net flow of all funds combined. This difference is mainly explained by withdrawals from two major competitors. Fidelity’s FBTC lost 83.6 million dollars, while Grayscale’s GBTC recorded 54.9 million dollars in outflows . Together, these two funds total 138.5 million dollars in withdrawals, which is almost exactly the observed gap. This phenomenon is nothing new.

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