BlackRock’s IBIT Adds $1.08 Billion in Bitcoin Over 20 Days as GBTC Sees
BlackRock’s iShares Bitcoin Trust (IBIT) accumulated $1.08 billion worth of Bitcoin over a 20-day period, while Grayscale’s GBTC recorded $254.7 million in net Bitcoin outflows during the same period, according to data from blockchain analytics firm Arkham cited by Coin Bureau.
The figures highlight a divergence between two of the largest U.S. spot Bitcoin exchange-traded products. Arkham data showed that IBIT recorded inflows on seven of the 20 days covered, while GBTC moved in the opposite direction.
BlackRock Bitcoin ETF Sees Concentrated Inflows
The $1.08 billion accumulated by IBIT was not distributed evenly across the period. Data reported from the same Arkham tracking showed particularly large inflow sessions, including $454 million on Sept. 3 and $277.6 million on Aug. 27.
The flows come as Bitcoin markets remain sensitive to broader macroeconomic conditions. Reuters reported that Bitcoin had recovered from lows around $60,000 in late August and climbed above $70,000, while investors continued to monitor interest-rate expectations, Treasury yields and developments in U.S. crypto legislation.
Spot Bitcoin ETFs have become an important channel for institutional and traditional-markets investors seeking exposure to Bitcoin without directly holding the asset. IBIT is among the largest products in the U.S. market, giving changes in its holdings greater significance for Bitcoin liquidity and institutional demand.
Grayscale GBTC Records $254.7 Million in Net Outflows
While IBIT accumulated $1.08 billion, Grayscale’s GBTC recorded $254.7 million in net outflows over the same 20-day window, according to Arkham.
Recent daily ETF data also shows that the two products can experience sharply different flows. On Cryptocurrency Sept. 3, for example, IBIT recorded a $454 million inflow, while broader U.S. spot Bitcoin ETFs posted a combined $730.8 million inflow.
The divergence does not necessarily represent a direct transfer of capital from GBTC to IBIT, as ETF flows can reflect different investors and trading activity. Nevertheless, the contrasting figures underscore the increasingly competitive structure of the U.S. Bitcoin ETF market.
The next focus for market participants will be whether IBIT can maintain positive inflows while broader ETF demand responds to Federal Reserve policy, Bitcoin price movements and changing risk appetite.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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