IBIT TOOK $450 MILLION IN A WEEK — ALL U.S. SPOT BITCOIN ETFS NETTED $241 MILLION — YOU STILL CAN’T WITHDRAW A SHARE TO A WALLET

U.S. spot bitcoin ETFs netted $241.1 million from September 28 through October 2, by Farside Investors' daily table. BlackRock's IBIT took in $450.2 million of that. The other eleven funds lost $209.1 million between them. Fidelity's FBTC led the way out at $167.9 million.

The week before looked nothing like it. From September 21 through 25, the same table shows $2.39 billion in, with $1.16 billion of it going to IBIT. Net inflows fell about 90% from one week to the next, and IBIT alone took in more than the whole field netted.

Since launch, Farside counts $57.7 billion net into all U.S. spot bitcoin funds and $65.7 billion into IBIT. Every other fund combined is $8.0 billion in the hole. The buyers picked one issuer. Each of those dollars buys a share, not a coin. The coins sit with a custodian the buyer never meets, and you can't withdraw a share to your own wallet.

October 5 started the same way for the rest of the field: FBTC out $74.5 million and ARKB out $85.2 million in Farside's early prints, with IBIT not yet reported. At the time of this writing, bitcoin was $85,549.