Bitcoin ETF Inflows & OutflowsBitcoin ETFs took in a net $119M on Oct 6, and $2.2B in over 30 days
The full list of 12 spot Bitcoin ETFs and their tickers, with the latest inflows and outflows fund by fund, every day’s net flow, assets and expense ratios. The lowest expense ratio: MSBT (Morgan Stanley) at 0.14%.
Bitcoin ETFs: assets and daily flows
Every Bitcoin ETF DefiLlama tracks, by assets. A net inflow means more money came into the funds than left them that day.
Bitcoin ETFs hold $108.1B across 12 funds. On Oct 6, a net $119M flowed in. The largest is Blackrock’s IBIT, with $67.1B (62%).
IBIT holds 62% of it.
The day before: −$90M.
Sep 7–Oct 6: 13 days in, 8 out.
Fees from 0.14% to 1.50% a year.
Latest flow: Oct 6.
| 1IBIT · BlackrockiShares Bitcoin Trust | $67.1B | 0.25% | +$122M | $1.5B |
|---|---|---|---|---|
| 2FBTC · FidelityWise Origin Bitcoin Trust by Fidelity | $15.5B | 0.25% | $0 | $143M |
| 3GBTC · GrayscaleGrayscale Bitcoin Trust | $10.6B | 1.50% | $0 | $87M |
| 4BTC · GrayscaleGrayscale Bitcoin Mini Trust | $5.3B | 0.15% | −$11M | $44M |
| 5BITB · BitwiseBitwise Bitcoin ETP | $3.2B | 0.20% | $0 | $30M |
| 6ARKB · Ark/21 SharesArk/21 Shares Bitcoin Trust | $2.9B | 0.21% | $0 | $21M |
| 7HODL · VanEckVanEck Bitcoin Trust | $1.2B | 0.20% | $0 | $9.1M |
| 8MSBT · Morgan StanleyMorgan Stanley Bitcoin Trust | $873M | 0.14% | +$7.8M | $12M |
| 9BRRR · ValkyrieValkyrie Bitcoin Fund | $478M | 0.25% | $0 | $1.5M |
| 10EZBC · Franklin TempletonFranklin Bitcoin ETF | $469M | 0.19% | $0 | $4.8M |
| 11BTCO · Invesco/GalaxyInvesco Galaxy Bitcoin ETF | $426M | 0.25% | $0 | $3.3M |
| 12BTCW · WisdomTreeWisdomTree Bitcoin Trust | $172M | 0.25% | $0 | $791K |
Source: DefiLlama (ETF assets and flows), observed .
Bitcoin ETF inflows and outflows by day
The net flow into every spot Bitcoin ETF combined, each trading day for the last 30 days, with the running total. Since May 14, the biggest day in was Sep 21 (+$999M) and the biggest day out May 27 (−$733M).
| Day | Net flow | Running total, 30 days |
|---|---|---|
| Oct 6, 2026 | +$119M inflow | +$2.2B |
| Oct 5, 2026 | −$90M outflow | +$2.1B |
| Oct 2, 2026 | +$190M inflow | +$2.2B |
| Oct 1, 2026 | +$103M inflow | +$2.0B |
| Sep 30, 2026 | −$149M outflow | +$1.9B |
| Sep 29, 2026 | +$66M inflow | +$2.0B |
| Sep 28, 2026 | +$31M inflow | +$2.0B |
| Sep 25, 2026 | +$135M inflow | +$1.9B |
| Sep 24, 2026 | +$191M inflow | +$1.8B |
| Sep 23, 2026 | +$347M inflow | +$1.6B |
| Sep 22, 2026 | +$715M inflow | +$1.3B |
| Sep 21, 2026 | +$999M inflow | +$542M |
| Sep 18, 2026 | +$433M inflow | −$457M |
| Sep 17, 2026 | +$160M inflow | −$890M |
| Sep 16, 2026 | −$296M outflow | −$1.0B |
| Sep 15, 2026 | −$450M outflow | −$753M |
| Sep 14, 2026 | +$160M inflow | −$303M |
| Sep 11, 2026 | −$13M outflow | −$463M |
| Sep 10, 2026 | −$283M outflow | −$450M |
| Sep 9, 2026 | −$120M outflow | −$167M |
| Sep 8, 2026 | −$47M outflow | −$47M |
Bitcoin ETFs by expense ratio, lowest first
What each fund charges a year, as a share of what you hold, and what that comes to on $10,000. It’s the fund’s listed expense ratio; a fee waiver can cut it for a time, and a big gap in assets can matter as much as a small gap in fees.
| Fund | Expense ratio | A year on $10,000 | Assets |
|---|---|---|---|
| MSBTMorgan Stanley · Morgan Stanley Bitcoin Trust | 0.14% | $14 | $873M |
| BTCGrayscale · Grayscale Bitcoin Mini Trust | 0.15% | $15 | $5.3B |
| EZBCFranklin Templeton · Franklin Bitcoin ETF | 0.19% | $19 | $469M |
| BITBBitwise · Bitwise Bitcoin ETP | 0.20% | $20 | $3.2B |
| HODLVanEck · VanEck Bitcoin Trust | 0.20% | $20 | $1.2B |
| ARKBArk/21 Shares · Ark/21 Shares Bitcoin Trust | 0.21% | $21 | $2.9B |
| IBITBlackrock · iShares Bitcoin Trust | 0.25% | $25 | $67.1B |
| FBTCFidelity · Wise Origin Bitcoin Trust by Fidelity | 0.25% | $25 | $15.5B |
| BRRRValkyrie · Valkyrie Bitcoin Fund | 0.25% | $25 | $478M |
| BTCOInvesco/Galaxy · Invesco Galaxy Bitcoin ETF | 0.25% | $25 | $426M |
| BTCWWisdomTree · WisdomTree Bitcoin Trust | 0.25% | $25 | $172M |
| GBTCGrayscale · Grayscale Bitcoin Trust | 1.50% | $150 | $10.6B |
Instead of buying Bitcoin directly, you can invest in a Bitcoin ETF, which makes it easier and more accessible for people to gain exposure to Bitcoin. This eliminates the need to manage the actual Bitcoins themselves.
Bitcoin ETF Tracker for September 2026
Spot vs. Futures ETFs
There are two different types of Bitcoin ETFs:
- Spot Bitcoin ETFs: These ETFs hold actual Bitcoin, reflecting the real-time market price, allowing investors to gain exposure to Bitcoin without directly owning it.
- Bitcoin Futures ETFs: These ETFs invest in futures contracts, tracking the price of future Bitcoin trades. They come with additional risks like contract roll costs.
Essentially, a Bitcoin ETF allows investors to buy shares representing Bitcoin, traded on traditional stock exchanges.
Bitcoin ETF History
The idea of a Bitcoin ETF dates back to 2013, with the Winklevoss twins’ initial attempt.
However, the first spot Bitcoin ETF, was only approved by the US SEC on January 10, 2024, marking a significant milestone. This approval followed years of scrutiny and multiple rejections due to market manipulation and regulation concerns.
Key factors included legal pressure from a Grayscale lawsuit against the SEC, increased interest from major financial institutions like BlackRock and Fidelity, and evolving attitudes to regulation.
The eventual approval was a strong signal of mainstream acceptance, making Bitcoin investment more accessible and potentially increasing demand.
Popular Bitcoin ETFs
1. iShares Bitcoin Trust (IBIT)
The iShares Bitcoin Trust is the flagship spot Bitcoin ETF of BlackRock – the largest asset manager in the world.
It may be no surprise that the iShares Bitcoin Trust is the industry’s biggest Bitcoin ETF, benefitting from high liquidity and trading volumes.
The ETF trades on the NASDAQ exchange under the ticker IBIT, with an expense ratio of 0.25%. Coinbase Custody secures its underlying Bitcoin.
| Ticker | IBIT |
| Trades on | NASDAQ |
| Expense ratio (Fees) | 0.25% |
| Custodian | Coinbase Custody |
| Administered by | BlackRock |
2. Fidelity Wise Origin Bitcoin Fund (FBTC)
The Fidelity Wise Origin Bitcoin Fund trades on the CBOE with the ticker FBTC, with an expense ratio of 0.25%.
The fund is administered and custodied by Fidelity Digital Asset Services, reflecting Fidelity’s extensive experience in digital assets.
Fidelity has been actively involved in Bitcoin and blockchain technology since 2014, starting with Bitcoin mining. It later launched Fidelity Digital Assets in 2018, offering institutional investors custody and trading services for digital assets.
| Ticker | FBTC |
| Trades on | CBOE |
| Expense ratio (Fees) | 0.25% |
| Custodian | Fidelity Digital Asset Services |
| Administered by | Fidelity Digital Asset Services |
3. Grayscale Bitcoin Trust (GBTC)
The Grayscale Bitcoin Trust is one of the earliest Bitcoin investment vehicles, originally launched in 2013 as an investment trust rather than an ETF. It trades on the NYSE with the ticker GBTC.
Its expense ratio is 1.50%, the highest among similar products. Coinbase Custody takes care of its underlying coins.
Grayscale Bitcoin Trust previously faced trading issues and regulatory hurdles transitioning into an ETF, leading to a lawsuit against the SEC. Its eventual legal win against the SEC may have been key in paving the way to approve all spot Bitcoin ETFs, by highlighting regulatory inconsistencies.
Grayscale has also launched a Bitcoin Mini Trust ETF (ticker BTC), offering a significantly lower management fee of 0.15%. GBTC holders are permitted to transition to the Mini Trust without triggering a taxable event.
| Ticker | GBTC |
| Trades on | NYSE |
| Expense ratio (Fees) | 1.50% |
| Custodian | Coinbase Custody |
| Administered by | Grayscale Investments |
4. ARK 21Shares Bitcoin ETF (ARKB)
The ARK 21Shares Bitcoin ETF is a collaboration between Cathie Wood’s ARK Invest and 21Shares.
It trades under the ticker ARKB on the CBOE and has an expense ratio of 0.21%. Coinbase Custody secures the assets.
A key feature of the ARK 21Shares Bitcoin ETF is its surveillance-sharing agreement with a US-based spot trading platform for Bitcoin, which upholds market integrity and reduces the risk of manipulation.
| Ticker | ARKB |
| Trades on | CBOE |
| Expense ratio (Fees) | 0.21% |
| Custodian | Coinbase Custody |
| Administered by | ARK Invest & 21Shares |
5. Bitwise Bitcoin ETF (BITB)
The Bitwise Bitcoin ETF trades on the NYSE under the ticker BITB, with the lowest expense ratio among similar products of just 0.20%.
This low expense ratio makes the Bitwise Bitcoin ETF particularly attractive to cost-conscious investors.
Bitwise is known for its early attempts to launch a spot Bitcoin ETF, dating back to 2019, when it first filed with the SEC. The fund is administered by the Bank of New York Mellon, with Coinbase Custody as the custodian.
| Ticker | BITB |
| Trades on | NYSE |
| Expense ratio (Fees) | 0.20% (waived for the first $5 billion in assets) |
| Custodian | Coinbase Custody |
| Administered by | Bank of New York Mellon |
6. ProShares Bitcoin Strategy ETF (BITO)
The ProShares Bitcoin Strategy ETF was the first Bitcoin-linked ETF to be approved in the United States, being approved and launched on October 19, 2021.
Unlike the spot Bitcoin ETFs above, the ProShares Bitcoin Strategy ETF invests in Bitcoin futures contracts, providing regulated exposure to Bitcoin without holding the digital asset directly.
It trades on the NYSE under the ticker BITO, with an expense ratio of 0.95%.
| Ticker | BITO |
| Trades on | NYSE |
| Expense ratio (Fees) | 0.95% |
| Custodian | None (Futures product) |
| Administered by | ProShares |
Why Bitcoin ETFs?
Bitcoin ETFs provide investors with a regulated and straightforward way to gain exposure to Bitcoin, without needing to directly buy, store, and secure the cryptocurrency themselves.
This is especially important for large financial institutions, hedge funds, pension funds, and diversified portfolio managers.
Here are some key benefits that Bitcoin ETFs provide:
- Regulatory Compliance: Bitcoin ETFs follow strict regulations, offering a safer investment than directly holding Bitcoin.
- Ease of Access: ETFs trade on regular stock exchanges, making buying through standard brokerage accounts easy. This avoids the complexity of crypto-only exchanges.
- Third-Party Custody: A trusted and qualified custodian holds the underlying Bitcoin on behalf of the ETF manager. Investors do not need to worry about storing coins on their own.
- Institutional Demand: Bitcoin ETFs meet the needs of institutional investors, fitting within traditional investment structures and regulations.
- Diversification: Bitcoin ETFs enable investors to add Bitcoin to their portfolios without directly holding it, aiding in diversification and risk management.
ETFs vs Buying Spot Bitcoin
Bitcoin ETFs offer a simpler, more regulated way for traditional investors to get exposure to Bitcoin through their brokerage accounts. This comes without needing to handle security and storage, but also comes with management and trading fees.
In contrast, buying Bitcoin directly allows investors to own and control their Bitcoin, move it between wallets, and trade anytime with potentially lower fees. However, this route requires more knowledge about cryptocurrencies and wallets.
| Feature | Bitcoin ETF | Buying Spot Bitcoin |
| Accessibility | Via traditional brokerage accounts | Via crypto exchange |
| What do Investors Own? | Shares of the ETF, not Bitcoin directly | Actual Bitcoin |
| Custody and Security | Held by a professional custodian | Self-custody |
| Fees | Management fee (expense ratio) and trading fees | Exchange fees |
| Market Hours | Market hours only | 24/7 |
| Ease of Use | Simple for traditional investors | Requires crypto and crypto wallet knowledge |
| Minimum Investment Amount | Dependent on ETF broker | No minimum investment |
| Withdrawable BTC? | No | Yes |
ETF Risks and Considerations
Although ETFs operate in a more traditionally regulated environment, they come with their own risks. These may include:
- Management Fees: Bitcoin ETFs come with management fees that can reduce overall returns compared to holding Bitcoin directly.
- Trading Hours: ETFs are limited to stock exchange trading hours, while Bitcoin itself trades 24/7. This can lead to missing large market moves.
- Custody: An ETF’s underlying Bitcoin is held by a custodian, rather than by yourself. Although this is usually a highly trusted third party, you’re not the one in control of your coins.
- Non-Redeemable: In most cases, Bitcoin ETFs cannot be redeemed for the underlying Bitcoin, so you can’t move the actual coins.
- Market Volatility: The formal environment doesn’t change the fact that Bitcoin’s price can be very volatile. This volatility will be reflected in the value of the ETF.
FAQ
- What are bitcoin ETF inflows and outflows?
An inflow is new money coming into the funds: when investors buy more shares than they sell, the fund creates shares and buys more bitcoin to back them. An outflow is the reverse, and the fund sells. The daily net flow adds every spot bitcoin ETF together; the flow tracker above shows each trading day.
- Which bitcoin ETF has the lowest expense ratio?
The expense ratio table above ranks every spot bitcoin ETF from cheapest to most expensive, with what each costs a year on $10,000. Fees are close across the big funds, so size and trading volume matter as well; some funds also waive part of their fee for a time.
- Why invest in a Bitcoin ETF instead of buying Bitcoin?
A Bitcoin ETF offers a more convenient and regulated way to invest in Bitcoin without the complexities of buying and storing it yourself.
- Are there risks involved with Bitcoin ETFs?
Yes, the risks of Bitcoin ETFs include limited trading hours, third-party custody, management fees, regulations, and inability to redeem the underlying Bitcoin.
- Can a Bitcoin ETF affect the price of Bitcoin?
Yes, increased demand from investors buying Bitcoin ETFs can lead to higher Bitcoin prices. Spot Bitcoin ETF purchases are backed by actual purchases of Bitcoin on the open market.
- How do I buy a Bitcoin ETF?
You can buy shares of a Bitcoin ETF through a regular brokerage account, just as you would with any other stock or ETF.
- Which Bitcoin ETF has the lowest fees?
The Bitwise Bitcoin ETF (BITB) has the lowest expense ratio out of the most popular spot Bitcoin ETFs, at just 0.20%.
- What is the difference between a futures and spot Bitcoin ETF?
Spot Bitcoin ETFs hold actual Bitcoin and follow its current market price, giving investors exposure without needing to own it directly.
Bitcoin Futures ETFs, on the other hand, invest in contracts predicting Bitcoin’s future price and come with extra risks like the costs of renewing these contracts.
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