The Bitwise Bitcoin ETF (BITB) added 0.00 BTC ($0.00 computed flow) on Monday, September 7th, rounding out a period of stabilization. This flat session follows a $24.20 million inflow on Friday, September 4th, which represented the fund's largest positive cash movement since it recorded a colossal $2.95 billion inflow on August 21st. It's a quiet moment in a tape that tells a story of accumulation, sudden expansion, and recovery. The underlying data for BITB, along with holdings for iShares' new IBIT and ETHA funds from BlackRock, is sourced from XOOMAR's Crypto ETF Flows hub, which pulls directly from issuer public filings and offers an API.
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The Lede: Flat Monday After Friday Surge
BITB's holdings remained at 38,170.30 BTC on Monday, September 7th, after increasing by 358.00 BTC the previous Friday. That Friday's inflow of $24.20 million was the largest since the historic $2.95 billion addition on August 21st. In the context of BITB's full stored history, the August 21st flow stands as both the largest positive and largest-magnitude print in the entire series. Monday's zero, in contrast, is simply a pause. It's a computed flow, meaning it reflects a change in underlying holdings from one stored row to the next, valued at the XOOMAR spot mark at the time of ingestion. This measure doesn't distinguish between daily creations, redemptions, or other accounting events. The tape only shows the net result.
BITB's Three-Regime Journey
BITB's journey through this window divides neatly into three phases. This analysis is a XOOMAR reading of the computed facts. The first was a steady climb to a peak of 38,295.25 BTC, reached on Friday, August 28th. The second was a dramatic washout, dominated by a single, massive $2.95 billion outflow on Monday, August 31st. The third and current phase is a steady recovery, punctuated by last Friday's $24.20 million inflow. The full tape below shows every step of this three-act story.
| Date | Weekday | Holdings | Flow | AUM |
|---|---|---|---|---|
| 2026-08-21 | Friday | 37,752.58 BTC | $2.95 billion | $2.96 billion |
| 2026-08-24 | Monday | 37,871.97 BTC | $9.40 million | $2.98 billion |
| 2026-08-25 | Tuesday | 37,909.95 BTC | $2.99 million | $2.98 billion |
| 2026-08-26 | Wednesday | 37,947.94 BTC | $2.99 million | $2.99 billion |
| 2026-08-27 | Thursday | 38,023.91 BTC | $6.09 million | $3.05 billion |
| 2026-08-28 | Friday | 38,295.25 BTC | $21.04 million | $2.97 billion |
| 2026-08-31 | Monday | 37,654.91 BTC | -$50.41 million | $2.96 billion |
| 2026-09-01 | Tuesday | 37,703.62 BTC | $3.76 million | $2.91 billion |
| 2026-09-02 | Wednesday | 37,812.15 BTC | $8.36 million | $2.91 billion |
| 2026-09-03 | Thursday | 37,866.41 BTC | $4.40 million | $3.07 billion |
| 2026-09-04 | Friday | 38,170.30 BTC | $24.20 million | $3.04 billion |
| 2026-09-07 | Monday | 38,170.30 BTC | $0.00 | $3.02 billion |
ETHW's Quiet Streak and Recent Moves
Bitwise's Ethereum ETF, ETHW, has also been quiet lately. Its holdings held steady at 112,053.33 ETH on September 7th. This was the fourth consecutive stored session with zero computed flow, its longest such streak in the stored tape. The streak is measured in stored sessions, not calendar days, and ended a series that began with two notable inflows in early September: a $3.58 million addition on Tuesday, September 1st, and a $1.39 million inflow on Friday, August 28th. This recent stasis follows the fund's own major expansion event on August 21st, a $272.74 million inflow that increased its holdings over 100-fold.
BlackRock Giants Hold First Snapshots
The ETF flow conversation now includes the massive new entrants from iShares. According to the latest files, the IBIT Bitcoin Trust holds 785,635.32 BTC, and the ETHA Ethereum Trust holds 3,527,867.37 ETH. These figures are first snapshots; they have no prior stored row, so daily computed flow is absent. The scale is immense. IBIT's holdings are 20.6 times larger than BITB's. ETHA's are 31.5 times larger than ETHW's. Combined, the two BlackRock vehicles represent a massive store of digital assets: 823,805.61 BTC and 3,639,920.70 ETH, as of their August 17th inception date reports.
What a Computed Flow Tape Shows
this dataset's main figures are computed flows, not direct issuer-reported creations or redemptions. The methodology is straightforward. Starting from an ETF issuer's published holdings file, XOOMAR creates a new row for each update. The computed flow is the difference in the number of coins between that row and the last stored row for the same ticker. That coin delta is then multiplied by the XOOMAR spot mark for the asset at the moment of data ingestion to produce a dollar value. A resulting AUM figure is simply the new holdings multiplied by that same mark. For a brand new fund without a prior row, there is no first flow to compute. It's an empty field, not a zero. This process gives a consistent, mark-to-market view of the capital movement implied by changing ETF baskets, but it doesn't reveal the exact mix of investor trades that caused it.
The Market Beneath the ETF Print
ETF flows happen within a live market. The marks used to value those flows at the time of ingestion are the same prices tracked in related perpetual futures markets. The table below shows those concurrent BTC and ETH marks from major exchanges, along with their perpetual funding rates. It's essential to note these are two separate Pulse tapes shown together; there is no computed causation between ETF flows and these derivative metrics. A zero-flow ETF day doesn't dictate perpetual funding, and a high funding rate isn't necessarily caused by an ETF's AUM change.
| Asset | Exchange | Mark | Funding Rate |
|---|---|---|---|
| BTC | binance | $79,025.33 | 0.00004673 |
| BTC | bybit | $79,023.24 | 0.00003198 |
| ETH | binance | $2,483.64 | 0.00006467 |
| ETH | bybit | $2,483.38 | 0.00003566 |
For a deeper look into these perpetual markets, see XOOMAR's Funding Rates hub.
Awaiting the Next IBIT and ETHA Files
The story for IBIT and ETHA is currently on pause, awaiting their second holdings snapshot. Once the issuers release updated files, the computed flow tape for these giants will begin. That next data point will be the first real signal of daily capital movement for the two largest spot crypto ETFs by a wide margin. It's what unlocks meaningful analysis of Bitcoin ETF flows for the BlackRock funds. Until then, the focus remains on the active, detailed tapes from earlier entrants like BITB and ETHW, where the day-to-day rhythm of inflows, outflows, and flat sessions continues to write the narrative.
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.
