BlackRock’s IBIT is still carrying spot Bitcoin ETF demand. On July 17, U.S. spot Bitcoin ETFs posted about $132 million in net inflows, while IBIT alone brought in roughly $136.5 million. In other words, IBIT contributed more than the category’s total because outflows elsewhere offset part of its gain, so this was not a broad-based buying day.
That also matters: when one fund is doing most of the buying, the headline number can overstate how strong demand really is across the full ETF market. Spot Bitcoin ETFs have now logged four straight sessions of net inflows, so the next thing to watch is whether that demand keeps coming and starts spreading to more issuers.