BlackRock's IBIT holds 115% of US spot Bitcoin ETF net inflows since 2024

September 6, 2026 at 08:00 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

BlackRock's iShares Bitcoin Trust (IBIT) has accumulated $63.9 billion in net inflows since January 2024, exceeding the entire US spot Bitcoin ETF category's $55.5 billion total. The fund's inflows offset $8.4 billion in combined net outflows from all other US spot Bitcoin ETFs, leaving IBIT with 115.2% of the category's net inflow.

Key Facts

IBIT recorded $63.9 billion in cumulative net inflows from January 2024 through September 3, 2026, according to Farside Investors.
The entire US spot Bitcoin ETF category retained $55.5 billion in net inflows over the same period.
Every US spot Bitcoin ETF outside IBIT posted a combined $8.4 billion in net outflows.
Grayscale's GBTC accounted for $27.6 billion of those outflows since January 2024.
Excluding both IBIT and GBTC, the remaining US spot Bitcoin ETFs took in $19.2 billion in net inflows.

IBIT's Dominance

BlackRock's IBIT has accumulated $63.9 billion in net inflows since its January 2024 launch, according to Farside Investors' fund ledger. The entire US spot Bitcoin ETF category, including IBIT, retained $55.5 billion over the same period. Subtracting IBIT's inflows from the category total leaves every other fund with a combined $8.4 billion in net outflows. IBIT's inflows therefore equal 115.2% of the category's net inflow, a figure that reflects the withdrawals elsewhere.

Grayscale's Outflows

Grayscale Bitcoin Trust (GBTC) recorded $27.6 billion in net outflows since January 2024, the largest negative contribution among US spot Bitcoin ETFs. GBTC entered the ETF era with a 1.50% fee and a large existing Bitcoin pool, and its conversion gave shareholders a redemption route. Cheaper products offered an obvious alternative for investors who wanted to remain exposed to Bitcoin. The flow data cannot separate migrations from outright Bitcoin sales.

Market Excluding IBIT and GBTC

Removing both IBIT and GBTC from the category total shows the remaining US spot Bitcoin ETFs took in $19.2 billion in net inflows. This calculation addresses the concern that IBIT's 115.2% share is an accounting artifact driven by GBTC's legacy outflows. On August 27, IBIT saw $277.6 million in inflows while the entire category recorded $242.3 million, meaning other products lost a combined $35.3 million.