The Bitwise Bitcoin ETF posted a withdrawal last Friday. BITB subtracted -162.79 BTC, equivalent to a computed outflow of $12.55 million on September 11, according to issuer filings tracked by XOOMAR. It's a slight dip. This $12.6 million withdrawal ranks a distant second to the fund's largest-magnitude daily flow of $2.95 billion, a mammoth inflow that occurred earlier in the stored window. Holdings for iShares funds IBIT and ETHA remain first snapshots, so daily flow isn't stored. Analysis is derived from issuers' public files. Sources include Bitwise Bitcoin ETF holdings and iShares Bitcoin Trust holdings.
XOOMAR Pulse Intelligence
Spot BTC & ETH ETF Flows & Holdings
BITB Withdraws Friday
BITB's latest print is a small one. The ETF's holdings fell to 38,192.00 BTC from its prior stored level of 38,354.79 BTC. This 162.79-coin decrease translates to a withdrawal of $12.55 million using the XOOMAR mark at the time of data ingestion. In the context of BITB's own history, this move is minor. The largest positive flow in the stored tape is $2.95 billion, and the largest-magnitude flow is also $2.95 billion. The fund's assets under management stand at $2.94 billion as of Friday.
A Fund's Three Regimes
A scan of BITB's complete stored history shows a fund that has moved in three distinct regimes. The first was a sharp accumulation phase culminating in a peak holding of 38,354.79 BTC recorded on 2026-09-09. This rise was abruptly reversed by a single, massive washout event. The largest-magnitude flow in the tape, a $2.95 billion print, hit around that time. Since then, the fund has entered a recovery regime into September 11 at $2.95 billion. The full session log shows many smaller inflows and outflows preceding these major events. The tape is chronological and shows coin holdings, computed flow in dollars, and AUM for each stored date.
| Date | Holdings | Flow | AUM |
|---|---|---|---|
| 2026-09-04 | 38,170.30 BTC | $0.00 | $3.04 billion |
| 2026-09-07 | 38,170.30 BTC | $0.00 | $3.02 billion |
| 2026-09-08 | 38,170.30 BTC | $14.50 million | $3.00 billion |
| 2026-09-09 | 38,354.79 BTC | $0.00 | $2.99 billion |
| 2026-09-10 | 38,354.79 BTC | -$12.60 million | $2.96 billion |
| 2026-09-11 | 38,192.00 BTC | -$12.55 million | $2.94 billion |
ETHW's Quiet Streak Breaks
Bitwise's ETHW fund has been quieter recently. It just ended its longest stretch without a dollar move in the stored window, a streak of 9 sessions with $0.00 computed flow. The last two sessions before Friday also showed $0.00 flow. Its current holdings are 112,053.33 ETH, with an AUM of $282.08 million.
Giant First Snapshots from iShares
The sheer scale of the iShares funds is the other story. The BlackRock-controlled IBIT and ETHA funds are present in the dataset with their first-ever holdings snapshots dated 2026-08-17. Since there's no prior row, their daily flows are absent.
Their size is staggering. IBIT holds 785,205.01 BTC on its debut, a sum that dwarfs BITB's current holdings by a factor of 20.6 times. Similarly, the ETHA stake of 3,524,246.63 ETH towers over ETHW, being 31.5 times larger. Combined, the two ETFs in this dataset represent 823,397.01 BTC and 3,636,299.97 ETH.
| Ticker | Issuer | As-of date | Holdings | Computed flow | AUM |
|---|---|---|---|---|---|
| BITB | Bitwise | 2026-09-11 | 38,192.00 BTC | -$12.55 million | $2.94 billion |
| IBIT | iShares (BlackRock) | 2026-09-10 | 785,205.01 BTC | -$24.45 million | $60.54 billion |
| ETHW | Bitwise | 2026-09-11 | 112,053.33 ETH | $0.00 | $282.08 million |
| ETHA | iShares (BlackRock) | 2026-09-10 | 3,524,246.63 ETH | -$18.99 million | $8.87 billion |
How Computed Flow Works
These flow figures are derived from issuer data. Holdings come from public files. For BITB and ETHW, it's the embedded basket data on Bitwise's fund page. For iShares funds, it's the Quantity column in the latest-holdings.csv file. The computed flow you see is simply the change in a fund's holdings versus its previous stored row, multiplied by the XOOMAR mark at the moment of data ingestion. It is a dollar estimate of creations or redemptions, not the perpetual-futures funding rate. A blank flow column means it's a first snapshot, not a zero print.
Related Token Marks
One caution: the funding rates and marks below are co timestamped data from a separate Pulse tape, not a consequence of ETF flows. The Bitcoin and Ethereum perpetual marks help provide pricing context for the ETF assets under management figures shown earlier in the article.
| Asset | Exchange | Mark | Funding rate |
|---|---|---|---|
| BTC | binance | $77,127.30 | 0.00003766 |
| ETH | binance | $2,517.84 | 0.00000217 |
| BTC | bybit | $77,118.70 | 0.00000415 |
| ETH | bybit | $2,517.85 | -0.00002537 |
Awaiting Next iShares Update
The next logical step for analysts is straightforward. Once a second holdings file is published for either IBIT or ETHA, the flow arithmetic will become possible. That second data point will unlock a daily computed flow, showing the market's immediate reaction to the goliath funds from their baseline state. Until then, IBIT and ETHA remain massive, static snapshots on the ledger.
For further data, you can explore the Crypto ETF Flows page or consult the ETF Flows API. Related data on perpetual-futures pricing is available at Funding Rates.
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.
