BlackRock’s IBIT Draws to $231M as Bitcoin ETF Closes Week Strongly — Details
After a tumultuous week in the cryptocurrency market, US-based Bitcoin ETFs (exchange-traded funds) saw significant inflows on Friday, February 6. As the leading cryptocurrency and the rest of the market fell sharply, exchange-traded products linked to BTC also posted significant withdrawals during the week.
With the bear market confirmed by the recent price decline, it will be interesting to see how US Bitcoin ETFs will perform during the first extended period of the price decline. To give you an idea, BTC exchanges have 11 days of big inflows so far in 2026.
US Bitcoin ETFs Post $330M Net Inflows
According to the latest market data, US Bitcoin ETFs saw a total inflow of $330 million on Friday. This round of inflows comes after three days of heavy withdrawals from BTC exchange-traded funds last week.
While market data for Friday’s activity remains incomplete, it’s no surprise that BlackRock’s iShares Bitcoin Trust (ticker IBIT) led this round of earnings. According to SoSoValue data, the exchange-traded fund added $231.62 million in value to close the week.
In addition, Ark & 21Shares’ (ARKB) followed in second place, with a total inflow of $43.25 million per day. Meanwhile, Bitwise’s Bitcoin ETF (BITB) and Grayscale’s Bitcoin Mini Trust (BTC) registered $28.7 million and $20.13 million in total revenue, respectively, on Friday.
The Invesco Galaxy Bitcoin ETF (BTCO) was the only other Bitcoin ETF to register activity for the day, posting total inflows of $6.97 million. As mentioned earlier, these figures are very different from the performance seen earlier in the week.
It is worth mentioning that this influx of funds seen by Bitcoin ETFs coincided with the price of Bitcoin returning to the level of $ 70,000 on Friday. Meanwhile, it is no coincidence that the Coinbase Premium, an indicator of demand for investors in the United States, retreated over the weekend.
Source: SoSoValue
According to data from SoSoValue, this performance of 330 million dollars also brought a weekly record of almost 350 million dollars in negative output. In particular, the inflow of $ 561 million recorded on Monday, February 2, also contributed to the final weekly figure.
Bitcoin Price At A Glance
After briefly returning to the $70,000 mark on Friday, the leading cryptocurrency cooled off over the weekend. As of this writing, the price of BTC stands at around $68,900, which represents a decrease of more than 1% in the last 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView
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