BlackRock's Bitcoin ETF (IBIT) Rakes in Half a Billion as Most U.S. Spot Bitcoin (BTC) ETFs Post Outflows

U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) saw mixed fortunes on Friday, with a majority of funds posting outflows. However, the day's biggest story was the massive $531.18 million in daily net inflows into BlackRock’s iShares Bitcoin Trust (IBIT).

On the other hand, all nine Ethereum ETFs saw zero flows either way, a rare occurrence and especially noteworthy given ETH’s recent struggles to stay afloat.

Bitcoin ETFs

According to data from SoSoValue, Bitcoin ETFs had a strong start to the week, garnering a combined $425.45 million in daily total net inflows.

The last week of April/first week of May wrapped with $1.81 billion in total inflows, and the week prior, funds garnered a gigantic $3.06 billion.

Leading the charge, and the sole gainer, BlackRock’s iShares Bitcoin Trust (IBIT) raked in $531.18 million daily net inflows. This brings IBIT’s cumulative net inflows to a whopping $44.21 billion and its net assets to $58.68 billion, making it the number one ETF in the space.

The second-largest BTC ETF, Fidelity Wise Origin Bitcoin Fund (FBTC), posted outflows of $57.82 million, bringing its cumulative net inflows to $11.6 billion and net assets to $18.74 billion.

It’s followed by the Bitwise Bitcoin ETF (BITB), which tallied modest outflows of $22.66 million. The fund has recorded $2.04 billion in cumulative net inflows and commands $3.64 billion in net assets, ranking it fourth and fifth, respectively.

The worst-performing fund, Grayscale’s Bitcoin Trust (GBTC), saw a further $16.37 million in exits from its diminishing fund. To date, GBTC has tallied $22.76 billion in cumulative net outflows, diminishing its net assets to $17.94 billion.

ARK 21Shares’ Bitcoin ETF (ARKB) also posted exits to the tune of $6.14 million. Its cumulative net inflows stand at $2.64 billion, with $4.53 billion in net assets, ranking it third and fourth, respectively.

Finally, Franklin Templeton’s (EZBC) posted minor outflows of $2.74 million, bringing its cumulative net inflows to $259.73 million and net assets to $490.52 million, ranking it eighth and tenth, respectively.

IBIT Dominance

Upon launching, BlackRock’s IBIT fund drew hundreds of millions in net inflows every day all the way through to the end of April 2024.

Since then, it has seen consistently high inflows and low outflow rates, allowing it to dominate and rack up a $58.58 billion portfolio.

In 2025, BlackRock saw its largest rate of outflows, which came as part of a broader market shakeout when BTC tumbled below $90,000. Its largest-ever day of outflows came on Feb. 26, 2025, when investors fled following BTC’s dip below $85,000.

But IBIT investors were resilient, and the fund continued outperforming the competition, maintaining a $40 billion gap between itself and its nearest competitor, FBTC.