Bitcoin ETF ushered in its largest single-day inflow since May, with BlackRock accounting for 83%

The net inflow of the U.S. spot Bitcoin ETF on Thursday was US$606.29 million, the largest in a single day since May 1.

According to SoValue data, the net inflow of the U.S. spot Bitcoin ETF on Thursday was US$606.29 million, the largest single-day gold intake since May 1. The figure surpassed Wednesday's $517.19 million and extended the record of consecutive net inflows to four trading days.

Net inflows for the four days-$297.56 million on Monday,$189.3 million on Tuesday, and Wednesday and Thursday-totaled approximately $1.61 billion. August currently has a cumulative net inflow of US$2.07 billion, making it the best performing month so far in 2026, surpassing the US$1.97 billion in April, and there are still seven trading days before the end of the month to continue to widen the gap.

Bitcoin ETF is a financial instrument that allows investors to gain exposure to assets without having to directly hold assets. For a Bitcoin ETF, the fund issuer holds Bitcoin and the investor holds a 1:1 equivalent share, tracking the Bitcoin price in real time.

Since their launch in early 2024, these funds have become extremely popular among investors, with BlackRock, the largest fund issuer, which has US$15 trillion in assets under management, becoming the main beneficiary.

BlackRock's IBIT had net inflows of US$502.99 million on Thursday, accounting for about 83% of all inflows in this category. Fidelity's FBTC net inflow was $64.74 million, Bitwise's BitB net inflow was $26.4 million, and Ark and 21Shares 'ARKB net inflow was $12.2 million. VanEck's HODL bucked the trend, with a net outflow of $3.59 million.

By comparison, IBIT accounted for 55% on Wednesday, with 8 of the 12 funds recording positive inflows and no funds showing a net outflow. After just one day, the total inflow was larger, but the distribution was narrower.

IBIT alone contributed approximately US$1.09 billion of the total inflow of US$1.61 billion over the four trading days. This is similar to the pattern earlier this month: funds had net inflows of $853.5 million in five days, about 80% of which came from IBIT.

The net inflow of Ethereum ETF was nearly US$221 million, the largest single-day scale since October 2025. This is also the fourth consecutive trading day that net inflow has been achieved.

Smaller products showed the strongest percentage gains. XRP funds had net inflows of $13 million, compared with just $2.35 million on Wednesday. Solana funds had net inflows of $15 million, compared with $2.1 million on Wednesday. All listed assets recorded net inflows, including Hyperliquid's product, which was the only fund to have experienced an outflow the day before.

On Wednesday, for every $1 in Bitcoin funds, XRP funds received approximately $220 in inflows. By Thursday, the gap had narrowed to about 47 to 1.

As a result, funds have become more widespread at the asset level, while at the same time becoming more concentrated within Bitcoin. The squeeze is not an abstract concept and has led to the closure of one fund this month.

Hashdex has closed its DEFI Bitcoin ETF, the first spot Bitcoin fund to be cleared in the United States, with its last trading day on August 17. The fund charges the same 0.25% management fee as IBIT, but has assets of only US$14.7 million, compared with US$47 billion for IBIT, which generates approximately US$26,000 a year in fees-not enough to keep the fund operating.

Any investor who still holds shares of the fund after August 17 will not be able to exit through the exchange. They will receive a cash payment based on net asset value, which may be August 24 or August 28, depending on Hashdex's filing, but will be deducted from clearing expenses and adjusted for Bitcoin price fluctuations during the period the fund sells the remaining 225 bitcoins. The sell-off is taking place in Bitcoin's best week since 2023.

Bitcoin traded at about $77,000 on Friday, having previously challenged the $80,000 mark and touched about $79,400. It exceeded $69,000 on Wednesday and $72,000 on Thursday, up about 24% since Monday-the best weekly performance since 2023-but still about 38% below the all-time high of more than $126,000 set in October 2025.

This round of gains has not yet reversed the chart trend. Bitcoin's death cross has existed since November 16, 2025, and although the price has rebounded above the 200-day simple moving average ($69,005), the 50-day line is at $63,976. About $5,000 will need to rise before completing the gold cross (the reverse form of the death cross).

The exchange price of Ethereum is approximately US$2,357, and the XRP is approximately US$1.38, continuing the best one-week performance of Ripple-related tokens since the 2024 election, with an increase of approximately 38%. The trend began with the Treasury Department's decision to at least double the size of long-term bond repurchases, and then as short squeeze accelerated, liquidating $3 billion in short positions in 24 hours and wiping out another $1 billion on Friday.

According to SoValue data, as of Thursday's close, the net assets of the Bitcoin ETF were US$90.16 billion, equivalent to 6.18% of the Bitcoin market value at that time. The cumulative net inflow since the fund began trading on January 11, 2024 is US$53.4 billion. The trading volume of this sector reached US$5.41 billion that day. The expanded repurchase program will take effect on September 9 and last until November 4, when the Ministry of Finance will determine the size of the next quarter in the next quarterly refinancing.