BlackRock’s Bitcoin ETF Sees $231.6M Inflows After Two Days of Record Outflows

Why Did IBIT See Inflows After Heavy Redemptions?

BlackRock’s spot Bitcoin ( $BTC ) exchange-traded fund recorded $231.6 million in inflows on Friday, reversing part of the damage from earlier in the week as Bitcoin prices swung sharply. The rebound followed two consecutive sessions of large redemptions, when the iShares Bitcoin Trust ETF shed a combined $548.7 million on Wednesday and Thursday, according to the data.

Those outflows coincided with a sharp sell-off across crypto markets. Bitcoin briefly fell to $60,000 on Thursday, dragging sentiment to multi-month lows and triggering redemptions across most US-listed spot Bitcoin ETFs.

Friday’s data show a partial reset. Preliminary figures from Farside indicate net inflows of $330.7 million across nine US spot Bitcoin ETF products, ending a three-day stretch in which the group lost a combined $1.25 billion.

What Do Bitcoin ETF Flows Say About Sentiment?

So far in 2026, IBIT has logged net inflows on just 11 trading days, highlighting how fragile demand has been as Bitcoin struggles to regain momentum. Market participants often treat ETF flows as a proxy for institutional appetite, especially during periods of price instability.

Bitcoin was trading near $69,820 at the time of publication, after falling 24.30% over the past 30 days, according to data. That decline has put many ETF holders underwater, intensifying scrutiny on whether recent inflows reflect renewed interest or short-term positioning.

ETF activity tends to draw attention during periods of stress because it captures real-time behavior from investors who prefer regulated exposure rather than holding Bitcoin directly. When redemptions accelerate, they often reinforce bearish price moves.

How Extreme Was the Week’s Trading Activity?

Trading volumes in IBIT spiked sharply during the sell-off. Bloomberg ETf analyst said the fund “crushed its daily volume record” on Thursday, with about $10 billion worth of shares changing hands in a single session.

IBIT fell 13% that day, being the fund’s “second-worst daily price drop since it launched.” Its steepest single-day fall remains a 15% decline recorded on May 8, 2024.

The reversal on Friday was equally abrupt. IBIT climbed 9.92% and closed at $39.68, according to Google Finance, tracking Bitcoin’s recovery from its intraday lows.

How Do Current Losses Compare With Earlier Cycles?

An ETF analyst said on Wednesday that Bitcoin ETF investors are facing their “biggest losses” since the US spot products launched in January 2024. With Bitcoin trading below $73,000, paper losses are estimated at roughly 42%.

Even so, the recent outflows remain modest compared with the scale of inflows seen during last year’s peak. Before the October downturn, net inflows into spot Bitcoin ETFs stood near $62.11 billion. That figure has since fallen to around $55 billion.

The contrast suggests that while volatility is testing investor conviction, a large portion of capital that entered the market during the rally has not yet exited. Whether that resilience holds may depend on how Bitcoin behaves around current price levels in the weeks ahead.

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