⏱ 2 min read
SoSoValue shows Thursday at roughly $190 million versus Monday’s $999 million; Farside data indicates IBIT captured about 86% of the day and nearly half of the streak.
Daily net creations into US spot Bitcoin ETFs have cooled sharply after a strong start to the week. Following Monday’s 2026 high of $999 million, inflows fell for three straight sessions, with Thursday’s total down 81% from Monday, according to SoSoValue.
Even with the deceleration, the latest six-session inflow streak has pushed the funds’ year-to-date tally to roughly $787 million, reversing a 2026 deficit of about $5.5 billion at the end of June. September alone has attracted $2.56 billion so far, after $3.52 billion in August.
Issuer concentration remains notable. Farside Investors data shows BlackRock’s iShares Bitcoin Trust (IBIT) took about $163 million of Thursday’s flows and has attracted roughly $1.35 billion during the six-session streak—nearly half of the funds’ combined inflows over that period.
The key signal:
Based on SoSoValue’s 81% decline from Monday’s $999 million, a simple calculation implies roughly $190 million in total inflows on Thursday. Against that backdrop, IBIT’s $163 million would represent about 86% of the day’s net creations (calculation). IBIT’s streak take of ~$1.35 billion likewise implies total streak inflows on the order of ~$2.7 billion if it is “nearly half” of the total (calculation).
Mechanically, spot ETF inflows translate into net creations and corresponding spot bitcoin purchases by intermediaries, providing an incremental bid to the market. A slowdown in creations reduces that marginal demand. The recent flow deceleration coincided with bitcoin easing from above $87,000 to around $83,807 at publication time, per CoinGecko, though the day’s price move was modest (-0.3% 24h; +8% 7d).
The larger context is that August and September combined have contributed approximately $6.08 billion, which is broadly consistent with flipping the year from a mid-year deficit to a net positive. The concentration of flows into IBIT suggests BlackRock remains the primary conduit for ETF-based demand.
▼ 0.57%
What to watch next:
• Whether the inflow streak survives a flatter or weaker price tape, and if Thursday’s slowdown persists or reverses.
• Issuer-level flow splits beyond IBIT to assess whether share is consolidating or broadening.
• The final September tally and whether YTD remains positive through month-end.
• Any return of outflow sessions that would indicate cooling demand for ETF exposure.
Limitations: The precise Thursday total is inferred from the reported 81% decline, and issuer-level details beyond IBIT were not provided. Flow data does not reveal the underlying investor type or time horizon.
This content is for informational purposes only and does not constitute financial advice.
🧠 HafidWatch Take
The key story is concentration and durability: roughly $6.08 billion from August to September reversed the year-to-date flows to positive, with BlackRock’s IBIT driving about 86% of Thursday’s total and nearly half of the recent six-day run. Sustained creations averaging even a few hundred million daily would signal a strong structural bid. However, if the streak ends amid a flat price tape, the YTD positive flows may be fragile. The coming sessions will reveal whether this slowdown is temporary or signals weakening demand.
Daily crypto intelligence. Before the market opens.
Including the Divergence Index — the sentiment gap no other newsletter tracks. Free, every morning at 7:30am ET.
✓ Free forever · ✓ No spam · ✓ 50+ sources monitored
