BlackRock Bitcoin ETF Pulls In $665 Million While Rivals Lose Money

TL;DR: BlackRock’s IBIT recorded roughly $665 million in net inflows on October 19, even as several other US spot Bitcoin ETFs saw investors take money out. A strong day for Bitcoin ETFs wasn’t quite as broad-based as the headline number suggests. BlackRock’s iShares Bitcoin Trust took in approximately $665.16 million on Monday, according to SoSoValue’s fund-flow figures, while the US spot Bitcoin ETF group recorded a combined inflow of about $526.6 million. That difference is the story. Money going into IBIT more than offset withdrawals from competing funds. Fidelity’s FBTC registered roughly $83.6 million in outflows, while Grayscale’s GBTC shed about $54.9 million. Rather than a uniform surge of demand for every Bitcoin product, Monday’s numbers point to a preference for the market’s biggest vehicle.

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