BlackRock’s iShares Bitcoin Trust (IBIT) recorded $275.8 million in net inflows on Thursday, leading U.S. spot Bitcoin ETF demand, according to SoSoValue data.
The allocation followed Wednesday’s strongest institutional buying session in nearly two weeks. This reinforces IBIT as the primary platform for institutional clients to gain direct exposure to spot Bitcoin.
On Thursday, Arkham data shared by Lookonchain showed 4,309 BTC worth about $289.6 million moving from Coinbase Prime to IBIT custody addresses within an hour. The transfers came in four separate transactions of roughly $20 million each, along with a smaller $7.3 million move.
IBIT Absorbed Institutional Rotation
Even though BlackRock’s Bitcoin ETF recorded massive inflows, two competing products (Fidelity’s FBTC and ARK 21Shares’ ARKB) experienced outflows. While Fidelity’s FBTC saw $51.5 million in outflows, ARK 21Shares’ ARKB had $44.9 million in outflows.
Bitwise’s BITB gained $69 million in inflows on the same day, and thus is the only other major ETF that saw positive flows. The data indicates a rotation of liquidity from competing products into BlackRock’s Bitcoin ETF.
Source: SoSoValue
The total net inflows to U.S. spot Bitcoin ETFs remain high at $54.83 billion. Institutions continue to maintain strong Bitcoin ETF exposure amid short-term reallocation of capital among these funds.
Also Read | Bitcoin ETFs Record $1.6 Billion Institutional Selling in Q4
Bitcoin ETF Inflows Demonstrate Dip Buying Trend
The latest inflows fit into a broader trend of “dip buying” among asset managers. Over the last three trading days, U.S. spot Bitcoin ETFs recorded total inflows of over $1.02 billion, according to SoSoValue data. This represents a reversal from multiple weeks of net outflows and indicates that asset managers are buying once again.
Bitcoin currently trades around $66,600 at the time of writing, down approximately 2.5% from the previous day’s price, according to CoinMarketCap. Bitcoin continues to trade in a short-term downward trend on the daily chart and reflects the ongoing volatility in the cryptocurrency markets.
Source: CoinMarketCap
ETF Analyst Nate Geraci stated on X that institutional investors are “buying the dip”. The short-term market structure for Bitcoin has shown that some traders continue to build sell orders at the $68,000 price level.
Whale tracking data shows large sell orders clustered near $68,000, a level where Bitcoin has faced repeated rejections in recent sessions.
Source: X
Why Does This Matter?
IBIT’s dominance and $1 billion inflows in three days confirm institutional accumulation, while large sell orders near $68,000 keep Bitcoin range-bound.
Also Read | Bitcoin Tests Key Support as On-Chain Models Point to $45,000 Bottom Zone
