Investors poured $269.3 million into BlackRock’s iShares Bitcoin Trust on Thursday, marking its strongest inflow day since early March, when tensions in the US-Iran conflict began to escalate.
The surge helped reverse two consecutive days of net outflows across the 12 US spot Bitcoin ETFs, which together recorded $358.1 million in net inflows.
ETF flows are widely viewed as a key indicator of both retail and institutional demand for Bitcoin.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw the second-largest inflows at $53.3 million, followed by the newly launched Morgan Stanley Bitcoin Trust (MSBT), which brought in $14.9 million on just its second day of trading, according to Farside Investors.
Other contributors included the Bitwise and ARK 21Shares Bitcoin ETFs, which attracted $11.7 million and $4.8 million respectively, while offerings from Franklin Templeton and VanEck each added roughly $2 million in inflows.
BlackRock’s IBIT has recorded $1.5 billion in net inflows so far this year, holding up despite a broader crypto market downturn that has seen Bitcoin fall from a 2026 high of $97,000 to around $72,100 at the time of writing.
In March, BlackRock’s head of digital assets, Robert Mitchnick, said IBIT investors have tended to be “disproportionately long-term buy-and-hold,” even amid heavy selling pressure elsewhere in the Bitcoin market.
Meanwhile, Morgan Stanley’s head of digital assets, Amy Oldenburg, told Bloomberg on Thursday that the firm’s Bitcoin ETF, MSBT, has been its most successful ETF launch to date.
“This is just the first of a long roadmap of new products on the asset management side,” Oldenburg said.
Morgan Stanley has also filed to launch additional crypto products, including a staked Ether ETF and a Solana ETF.
Following the latest inflows, US spot Bitcoin ETFs are nearing a return to positive year-to-date territory. After ending 2025 with $56.59 billion in net inflows, they currently sit at $56.51 billion—just $80 million short of regaining their starting level for the year.
