BlackRock’s IBIT ETF buyers scoop up $479M in Bitcoin this week as fear grips the market

While retail investors were busy panic-scrolling through red charts, BlackRock’s iShares Bitcoin Trust (IBIT) quietly absorbed $479 million worth of Bitcoin in just three days this week. That’s not a typo, and it’s not subtle. The IBIT haul accounted for roughly 76% of the $626 million in total net inflows across all US spot Bitcoin ETFs during the same period. Buying into fear Here’s what makes this particularly interesting. The Crypto Fear & Greed Index sat at 25 during this stretch, firmly in “Extreme Fear” territory. Bitcoin itself traded in a tight band between $64,744 and $64,920, barely moving while hundreds of millions poured into ETF coffers. One session alone saw $244.4 million in inflows, according to Farside Investors data. IBIT’s growing dominance Since launching in January 2024, IBIT has accumulated nearly $61 billion in cumulative net inflows. To put that in perspective, the aggregate net inflows across all US spot Bitcoin ETFs combined sit at approximately $52.39 billion. Yes, IBIT’s individual total exceeds the net figure for the entire category, because other funds have experienced significant outflows at various points. That kind of dominance doesn’t happen b...