Spot Crypto ETFs Absorb $260M in Settled Inflows; Fidelity's FBTC Leads Bid as IBIT Sees Redemptions

Spot crypto ETFs absorbed $260.1 million in net inflows in Thursday's settled session, according to InflowScan data, with Fidelity's FBTC capturing $162.2 million of the bid as issuer reports landed. Bitcoin products drove the print despite a $39.5 million redemption from BlackRock's IBIT, pointing to intra-issuer rotation rather than broad-based BTC demand.

Flow Tape

Thursday's settled bid concentrated in two bitcoin products, with FBTC and ARKB together accounting for more than the day's total net figure. IBIT's redemption offset a portion of that gross inflow, suggesting rotation within the BTC ETF complex rather than uniform allocation. Ethereum flows were muted, and no SOL or XRP product cracked the top three.

FBTC (Fidelity, BTC): +$162.2M ↑
ARKB (ARK Invest, BTC): +$91.8M ↑
ETHA (BlackRock, ETH): +$28.3M ↑

IBIT (BlackRock, BTC): -$39.5M ↓
ETHE (Grayscale, ETH): -$2.7M ↓

The dispersion is narrow. Two funds delivered the entire net figure, and IBIT's exit against FBTC and ARKB inflows is consistent with allocator-level rebalancing between bitcoin issuers rather than a directional call on the asset.

7-Day Context

Trailing seven-day cumulative flow data was not available at time of print, with settling days still incomplete across the reporting window. Thursday's $260 million print, taken in isolation, extends the recent pattern of BTC-led net demand and leaves ETH and altcoin products in a secondary role.