The Bitwise Bitcoin ETF (BITB) added 1.00 BTC on Friday, August 21, pushing its holdings to 127.00 Bitcoin, but a drop in the valuation price translated the small coin gain into a $9.50 million negative computed flow. The move's dollar magnitude was among the largest daily prints in the stored tape, matching the largest positive flow and the largest-magnitude flow at $39.85 million. This shift highlights how ETF flow is a product of both coin movement and real-time pricing.
XOOMAR Pulse Intelligence
Spot BTC & ETH ETF Flows & Holdings
XOOMAR's flow data is sourced from Bitwise Bitcoin ETF holdings and iShares Bitcoin Trust holdings.
The Day's Movers
Friday's snapshot shows a market moving in different directions. The computed dollar flows are a product of the coin change from the prior stored row and the XOOMAR perpetual mark at the time of data ingest.
| Ticker | Issuer | As-of date | Holdings | Computed flow | AUM |
|---|---|---|---|---|---|
| BITB | Bitwise | 2026-08-21 | 127.00 BTC | -$9.50 million | $114.30 million |
| ETHW | Bitwise | 2026-08-21 | 1,061.00 ETH | $3.58 million | $42.97 million |
| IBIT | BlackRock (iShares) | 2026-08-21 | 1,938.00 BTC | - | $1.74 billion |
| ETHA | BlackRock (iShares) | 2026-08-21 | 14,643.00 ETH | - | $593.04 million |
A blank flow (IBIT, ETHA) indicates a first snapshot, not a zero print.
For IBIT and ETHA, daily flow remains unknown because the dataset only contains their first holdings snapshot.
BITB's Long Road
BITB's journey in this window can be broken into three clear regimes, according to XOOMAR's computed metrics.
The fund accumulated aggressively through early 2024, reaching a peak holdings level of 747.00 BTC on Friday, March 29, 2024. Then came the washout. The largest-magnitude negative flow in the tape hit $39.85 million, pulling holdings down over a sustained period. The third regime is a recovery that has brought BITB's computed flow back to a positive magnitude matching that prior washout, also at $39.85 million.
Across the entire stored session history, the sum of BITB's flows amounts to $12.06 billion, even as the net coin change from the first to the last stored row is negative 23.00 BTC. The full BITB tape, with its 372 sessions, shows the volatility.
ETHW's Slow Build and Recent Inflow
Bitwise's spot Ethereum ETF, ETHW, has followed a slower trajectory. Its stored data shows no sessions with exactly $0.00 flow.
A look at ETHW's tape shows its first stored day on Tuesday, July 23, 2024, with 3,278.00 ETH. The fund has experienced significant inflows and outflows, ending Friday, August 21, at 1,061.00 ETH. The last two sessions show inflows, with a $3.56 million print on Thursday and a $3.58 million print on Friday.
The Debut of IBIT and ETHA
the dataset marks the arrival of iShares' two flagship crypto funds, IBIT for Bitcoin and ETHA for Ethereum. Their first holdings snapshots are dated Monday, August 17.
The scale differential is striking. IBIT's first holdings of 1,938.00 BTC are 15.3 times the size of BITB's current holdings. ETHA's debut at 14,643.00 ETH is 13.8 times larger than ETHW's Friday total.
XOOMAR reading shows the combined firepower under management for each issuer pair. BITB and IBIT together hold 2,065.00 Bitcoin as of their latest reports. ETHW and ETHA combined have 15,704.00 Ether under management.
How XOOMAR Computes Flow
The methodology is straightforward. Holdings come from issuer public files. The computed flow is the change in holdings versus the previous stored row for that ETF, multiplied by the XOOMAR perpetual mark at the moment of data ingest. AUM is holdings times that same mark. When a fund's first snapshot appears, there is no previous row, so flow is absent. This is not a zero print.
Related Market Prints
A separate Pulse tape captured market marks and funding rates around the same time. No causal link should be inferred between ETF flows and these perpetual metrics. They are timestamped context.
| Asset | Exchange | Mark | Funding rate | Open interest notional |
|---|---|---|---|---|
| BTC | binance | $75,420.80 | 0.00004648 | not available |
| BTC | bybit | $75,422.10 | 0.00007623 | $4.01 billion |
| ETH | binance | $2,363.39 | 0.00009917 | not available |
| ETH | bybit | $2,363.40 | 0.00010000 | $1.81 billion |
Awaiting the Next iShares Update
The current Bitcoin ETF flows landscape is defined by two things, BITB's small-coin, large-dollar move and the introduction of iShares' massive funds. The next iShares holdings file will be the telling one. It will show whether the debut snapshots were opening gambits or if steady accumulation by BlackRock's ETF machine has begun in earnest. Until then, flow analysis for IBIT and ETHA remains a waiting game.
For more data, visit Crypto ETF Flows, Funding Rates, or the ETF Flows API.
Primary Sources & Disclosures
Disclaimer: Content on XOOMAR is produced using AI-assisted research, drafting, and verification workflows and is intended for informational and educational purposes only. It does not constitute financial, investment, legal, tax, medical, or professional advice of any kind. All analysis reflects available information at the time of publication and may not be current. Verify information independently and consult qualified professionals before making decisions. Editorial policy
Written by
XOOMAR Insights Team
Research and Editorial Desk
The XOOMAR Insights Team pairs automated research with human editorial judgment. We track hundreds of sources across technology, fintech, trading, SaaS, and cybersecurity, cross-check the facts, and explain what happened, why it matters, and what to watch next. We do not just rewrite headlines. Every article is fact-checked and scored for reliability before it goes live, and we link back to the original sources so you can verify anything yourself.
