BlackRock’s IBIT Took In $196 Million in a Day. Fidelity’s FBTC Had One Positive Day All Week.
BlackRock's iShares Bitcoin Trust (IBIT) saw $196M inflows on October 1, 2026, the largest single-day inflow for U.S. spot Bitcoin funds that week. Fidelity's FBTC had $61M outflows the same day, finishing the week with only one positive inflow day. IBIT and FBTC both invest in Bitcoin and charge the same 0.25% fee. Over four days, IBIT took in $292M while FBTC lost $197M, reflecting investor preferences.
How this was made
The 30-second read
Why it matters
Large inflows into IBIT reinforce its market‑share dominance, while outflows from FBTC may depress its NAV and deter new investors.
Market read
Fund flow data provides a short‑term signal for traders of crypto‑linked ETFs, indicating potential price moves in IBIT and FBTC.
What to watch
Brokerage access rules and platform approvals can drive fund choice independent of size, possibly benefiting FBTC if Fidelity expands distribution.
Background
The article compares daily fund flows of the two largest U.S. spot Bitcoin ETFs, noting size, fee parity, and quarter‑end portfolio adjustments.
Ticker impact
BlackRock’s iShares Bitcoin Trust recorded a $196 million net inflow on Oct 1, the largest single‑day inflow for any U.S. spot Bitcoin fund that week.
likely upward pressure as new money improves liquidity and narrows bid‑ask spreads
Large inflow improves fund’s net asset value and makes it the preferred vehicle for large trades.
Fidelity’s Wise Origin Bitcoin Fund suffered a $61 million outflow on Oct 1 and a $126 million outflow on Sep 30, marking a sharp reversal after a strong prior week.
likely downward pressure as redemptions shrink assets and widen spreads
Sustained outflows signal reduced investor demand and may trigger further redemptions.
Market effects
Highlights concentration risk in the U.S. spot Bitcoin ETF market, with IBIT holding ~62% of assets.
May influence investor allocation between large‑cap crypto ETFs and smaller competitors in North America.
Signals broader investor preference for larger, more liquid Bitcoin funds, potentially affecting global crypto fund flows.
Counterpoint
Outflows from FBTC could be temporary quarter‑end rebalancing; a rebound may occur if Bitcoin price stays strong.
Key entities
- Asset ManagerBlackRock
Issuer of the iShares Bitcoin Trust (IBIT).
- Asset ManagerFidelity
Issuer of the Wise Origin Bitcoin Fund (FBTC).
