BlackRock’s iShares Bitcoin Trust (IBIT) drew $231.6 million in fresh inflows on February 6, reversing the prior session’s withdrawals and helping total net creations across U.S. spot products climb to roughly $330.7 million for the day.

The move arrived as Bitcoin bounced more than 6%, changing hands near $70,600 after sliding toward the $64,000 area earlier in the week. The rebound followed intense derivatives-driven volatility, with liquidations piling up while sentiment gauges briefly flashed extreme fear.

Market participants often read strong ETF creations as a sign of institutional-style demand returning during dips. Still, analysts routinely caution that primary-market flows into IBIT represent client allocations via the fund wrapper, not discretionary purchases by BlackRock itself.

IBIT has remained the volume and flows leader among the U.S. spot cohort since launch, building a sizable cumulative total in the tens of billions. Supporters argue the structure continues to broaden access for advisers and traditional investors, while critics note that flows can reverse quickly if macro conditions or risk appetite change.

For traders, the key question is whether sustained ETF demand can help stabilize momentum after the recent washout — or if volatility resumes once short-term positioning resets.

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