IBIT brought in more capital than the SPDR Gold ETF, which sits in eighth place with $20.8 billion in inflows despite gaining 65% during 2025.
Bitcoin News
BlackRock's iShares Bitcoin Trust ranked sixth among all ETFs in 2025 inflows while posting the only negative return in the top 25 funds. IBIT attracted roughly $25 billion in investor capital despite its annual performance sitting at minus 9.6% as of midday Friday.
Bloomberg ETF analyst Eric Balchunas described the flow pattern as a long-term positive signal. The data reveals investor behavior focused on accumulation rather than short-term price momentum. IBIT brought in more capital than the SPDR Gold ETF, which sits in eighth place with $20.8 billion in inflows despite gaining 65% during 2025.
Balchunas noted the flows demonstrate what he termed a HODL clinic from older, long-term investors. The analyst stated that pulling $25 billion during a bad year suggests substantial flow potential when market conditions improve. Vanguard's S&P 500 ETF led all funds with $145 billion in inflows, while the iShares S&P 100 ETF ranked 25th with $10 billion.
The disconnect between flows and performance has drawn questions from crypto market observers. Some asked why sustained institutional buying through ETFs has not translated into stronger Bitcoin price action. Balchunas suggested the market may be maturing, with early holders taking profits and deploying income strategies such as selling call options rather than chasing immediate gains.
Bitcoin rose more than 120% in 2024, tempering expectations for continuous appreciation. U.S. spot Bitcoin ETFs recorded $158 million in net outflows on Friday, with Fidelity's FBTC as the only fund posting inflows. Spot Ethereum ETFs saw $75.9 million in outflows, extending their losing streak to seven consecutive days.
BlackRock faced heavy pressure in November when IBIT recorded approximately $2.34 billion in net outflows, including two large withdrawal days mid-month. BlackRock executives downplayed concerns about the temporary pullback. Business development director Cristiano Castro stated at Blockchain Conference 2025 in São Paulo that the firm's Bitcoin ETFs have become one of its largest revenue drivers.
Castro argued that ETFs are designed to facilitate capital allocation and cash-flow management. He described periods of compression and outflows as normal functions of these investment vehicles. The steady accumulation during negative performance suggests institutional investors view current prices as attractive entry points for long-term positions.
The flow data contradicts assumptions that institutional investors chase only positive momentum. IBIT's sixth-place ranking demonstrates sustained demand for Bitcoin exposure through regulated investment products regardless of short-term price action. Balchunas emphasized the significance of maintaining top-tier inflows during a down year for the asset.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
