BlackRock’s iShares Bitcoin Trust just captured $503 million in net inflows on August 20, snapping back after a stretch where spot Bitcoin ETFs were seeing money leave the category. Out of about $606 million that flowed into all U S spot Bitcoin ETFs that day, IBIT absorbed the overwhelming majority, about four-fifths of the total.
It also marked the second strong session in a row: on August 19, IBIT had already taken in almost $285 million. The backdrop was a shift in macro conditions, with the Treasury moving to increase buybacks of longer-dated government debt after a bond selloff pushed long-term yields higher, helping drive a rethink in risk appetite.
That returning demand was funnelled primarily into BlackRock’s fund rather than spread evenly across the market. Bitcoin traded near $80,000 as flows rebounded. For now, when money returned to U S spot Bitcoin ETFs, BlackRock was the clear beneficiary.