BlackRock's Bitcoin ETF Records Historic $1.12B Inflows, Reversing Previous Outflows

On Nov. 7, U.S. spot Bitcoin ETFs recorded a historic $1.38 billion in net inflows, marking the highest single-day inflow since their inception, driven primarily by BlackRock's IBIT.

U.S. spot Bitcoin exchange-traded funds (ETFs) saw a record-breaking $1.38 billion in net inflows on Nov. 7, marking the highest single-day inflow since their inception, driven largely by BlackRock’s IBIT.

Data from SoSoValue shows that BlackRock’s spot Bitcoin ETF alone brought in $1.12 billion, a historic high that reversed the previous two days of outflows, which amounted to $113.3 million.

Of the 11 U.S.-listed spot Bitcoin ETFs, IBIT’s inflows constituted more than 81% of the total $1.38 billion in net inflows.

Following IBIT, Fidelity’s FBTC received the second-highest inflows, at $190.92 million, after leading the ETFs with $308.8 million in inflows the previous day.

Other Bitcoin ETFs that contributed to the net inflows included:

The remaining four Bitcoin ETFs reported zero flows on the day.

Total trading volume across the 12 spot Bitcoin ETFs amounted to $2.76 billion on Nov. 7, which was notably lower than the $6.07 billion recorded the previous day.

On Nov. 6, Bloomberg ETF analyst Eric Balchunas noted that IBIT alone saw nearly $1.1 billion in trading volume within the first 20 minutes of the market opening, immediately following Donald Trump’s election victory on Nov. 5.

With the Nov. 7 inflows, the cumulative net inflows across all 12 Bitcoin ETFs have reached $24.79 billion since their respective launches.

The record inflows coincided with Bitcoin’s continued ascent to new all-time highs, with CoinGecko data showing a peak price of $76,872 before a slight retraction to $76,027 at the time of writing.

As Bitcoin continues to discover its price, traders anticipate further significant inflows in the coming days.

“Expect another massive day tomorrow,” crypto trader The Bitcoin Therapist noted.

Balchunas, who predicted a large inflow based on trading volume trends, expressed surprise at the record-breaking scale of Nov. 7’s inflows.

“Told y’all it was prob gonna be big, altho even I am surprised it’s that big—by far the biggest one-day flow of any BTC ETF ever,” Balchunas stated in a Nov. 7 post on X.

On Nov. 8, Nate Geraci speculated that this influx might be partially due to crypto-native investors transitioning from holding Bitcoin directly to ETF positions, now almost ten months post-launch.

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