THE MONEY CAME BACK TO BITCOIN FUNDS — AND BLACKROCK TOOK ALL OF IT

The money came back. About $159.5 million walked into America’s spot bitcoin funds on Thursday, September 17, a reversal after the recent outflows. Look under the number, though, and one name did all the lifting: BlackRock’s IBIT took in $183.7 million by itself. Do the subtraction. If the whole group kept $159.5 million and IBIT alone pulled $183.7 million, the rest of the shelf handed back about $24.2 million. This was not a crowd rushing in. It was one giant fund filling up while Fidelity’s FBTC leaked $16.64 million and VanEck’s HODL leaked $7.57 million next door. Every dollar that steps into IBIT is a dollar BlackRock charges a fee on, and on Thursday BlackRock was the house that got paid. Grayscale, meanwhile, opened a new door: its fresh Zcash fund pulled $46.56 million, proof the issuers keep cutting turnstiles for whatever coin will sell. The receipt says one day, one big buyer, one fee machine humming.