Flow Tape

Dispersion was lopsided. The two largest bitcoin funds — IBIT and FBTC — carried roughly 86% of the day's net redemptions, pointing to concentrated institutional repositioning rather than a broad-based exit. Inflows were thin and fragmented across smaller products, with Bitwise's BITB the only fund to clear $15 million on the bid.

  • BITB (Bitwise, BTC): +$19.2M ↑
  • FETH (Fidelity, ETH): +$13.0M ↑
  • ARKB (ARK Invest, BTC): +$9.8M ↑
  • IBIT (BlackRock, BTC): -$263.7M ↓
  • FBTC (Fidelity, BTC): -$225.5M ↓
  • ETHA (BlackRock, ETH): -$79.0M ↓

7-Day Context

Trailing cumulative figures are incomplete as settling days finalize, so a running tally is not cited. Thursday's print, viewed in isolation, is consistent with the broader pattern InflowScan data has flagged this week: BTC-product redemptions outweighing ETH-product bids, with the two BlackRock-Fidelity flagships driving the tape.