BlackRock’s IBIT draws $1 billion as Bitcoin pulls back from $87K

BlackRock’s spot Bitcoin exchange-traded fund saw over $1 billion in four consecutive trading sessions as investors continued to get exposure to Bitcoin through the ETF.

The inflows continued even as Bitcoin later fell from above the $87,000 price level, which suggests that demand through regulated funds remains strong despite the short-term profit-taking that was seen.

IBIT captures almost half of Bitcoin ETF inflows

Farside Investors shared that between September 17 and 22, the BlackRock spot Bitcoin Trust, IBIT, witnessed approximately $1.02 billion in net inflows.

On September 17, the fund gained $183.7 million, and on the day following, another $108.4 million. In addition to this, investors added $381.4 million and $350.3 million to the fund on September 21& 22, respectively.

In total, US spot Bitcoin ETFs attracted $2.31 billion in the four sessions of inflows, with IBIT 44% of the flow

​What this means is that investors put money into the fund to have exposure to Bitcoin without holding BTC directly, not that BlackRock spent $1 billion.

The inflows also show that IBIT is preferred by those who want to participate in the market.  remains a preferred route into the market.

Bitcoin retreats despite continued demand