BlackRock’s iShares Bitcoin Trust (IBIT) led a fresh wave of demand for US spot Bitcoin ETFs on April 9, pulling in $269.3 million — its biggest one-day inflow since March 4. That surge helped push total net inflows for the US spot Bitcoin ETF complex to $358.1 million for the day, breaking a two-day streak of net withdrawals for the category.
IBIT dominated the session
BlackRock accounted for roughly three-quarters of the day’s inflows. Other notable inflows included:
- Fidelity’s FBTC: $53.3 million
- Morgan Stanley’s MSBT: $14.9 million
- Bitwise’s BITB: $11.7 million
- ARK’s ARKB: $4.8 million
- Franklin’s EZBC: $2.1 million
- VanEck’s HODL: $2.0 million
No other fund came close to IBIT’s haul, underscoring how a single large session for BlackRock can dramatically reshape the daily ETF flow picture.
Scale and dominance
Farside data shows IBIT has amassed $63.589 billion in cumulative net inflows since the fund’s January 5, 2024 launch. BlackRock reports the fund’s net assets at $56.53 billion as of April 9, with 1,385,320,000 shares outstanding and a 0.25% management fee.
The concentration of flows into the largest funds — and BlackRock in particular — tells a clear story: when institutions return to Bitcoin via ETF wrappers, they tend to funnel capital into the biggest, most established vehicles.
A volatile start to April
The April rebound follows a mixed start to the month. On April 6, US spot Bitcoin ETFs saw $471.4 million of net inflows — the strongest daily figure in about six weeks — again led by BlackRock ($181.9 million), with Fidelity and ARK also contributing. The market also experienced net outflows of $159.1 million on April 7 and $93.9 million on April 8, though IBIT itself remained positive on April 8.
Fee competition heats up
Competition among issuers is rising. Morgan Stanley’s MSBT began trading this week with a lower 0.14% fee, undercutting IBIT’s 0.25% charge. Even so, Thursday’s flows made clear that scale and brand continue to give BlackRock a central role in the US spot Bitcoin ETF market.
Bottom line: institutional flows remain concentrated at the top. As more issuers enter the space with competitive fee structures, IBIT’s size means it will likely continue to set the tone for daily ETF flow headlines.
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