BlackRock's IBIT product accounts for nearly all Bitcoin ETF inflows in 2025.

According to a report by analysts at K33 Research, the cumulative net inflow into Bitcoin ETFs since the beginning of 2025 has amounted to $26.9 billion. Of this amount, $28.1 billion is attributed exclusively to BlackRock through its iShares Bitcoin Trust (IBIT). This means that without BlackRock's participation, net capital flows into the ETF segment would be negative. The experts emphasized that the dominance of a single issuer highlights the market's dependence on a limited number of large institutional participants.

According to Vetle Lunde, senior analyst at K33, BlackRock has effectively become the sole driver of institutional inflows into Bitcoin ETFs. He noted that this concentration of risk could impact the sector's sustainability if the largest issuer changes its strategy or its clients experience a decline in interest. Inflows to competitors remain weak, and their share of total ETF assets continues to decline.

K33 Research confirmed that several altcoin ETFs are expected to launch in the coming months, but BlackRock is not participating. This opens the door for other asset managers, such as Fidelity, VanEck, and Franklin Templeton. However, analysts believe BlackRock's absence could limit overall inflows.

The researchers noted that BlackRock has a unique distribution structure among institutional clients, including pension funds and corporate treasuries, which ensures a stable inflow of funds regardless of short-term market fluctuations. Other issuers, by contrast, rely more heavily on retail investors and less predictable trading strategies.

Source: cryptonews.net