Spot Bitcoin ETFs absorbed $4.2 billion in net inflows from registered investment advisors and wirehouse platforms during the second quarter, according to ETF.com flow data compiled by CoinBatmi. The move marks the first sustained quarter where advisor-channel buying exceeded direct retail purchases, shifting the demand base from self-directed accounts to managed portfolios.
BlackRock's IBIT led the advisor uptake with $2.1 billion in Q2 net creations, followed by Fidelity's FBTC at $1.3 billion. Grayscale's GBTC, which converted from a trust in January, saw $420 million in advisor-channel inflows despite continued net redemptions overall. The three funds now represent 87% of advisor-held spot Bitcoin ETF assets.
| Fund | Ticker | Q2 Advisor Inflows | Total AUM | Advisor Share |
|---|---|---|---|---|
| --- | --- | --- | --- | --- |
| iShares Bitcoin Trust | IBIT | $2.1B | $22.4B | 34% |
|---|---|---|---|---|
| Fidelity Wise Origin Bitcoin Fund | FBTC | $1.3B | $11.8B | 28% |
| Grayscale Bitcoin Trust | GBTC | $420M | $18.1B | 12% |
|---|---|---|---|---|
| ARK 21Shares Bitcoin ETF | ARKB | $180M | $3.2B | 19% |
| Bitwise Bitcoin ETF | BITB | $140M | $2.1B | 22% |
The advisor channel now accounts for roughly 24% of combined spot Bitcoin ETF assets, up from 8% at the start of the year. Morgan Stanley and UBS wealth-management platforms approved IBIT and FBTC for model-portfolio inclusion in April, while LPL Financial and Raymond James followed in May. Each platform caps Bitcoin exposure at 1-3% of client portfolios, typically within alternative-asset sleeves.
Bitcoin traded at $63,431 on Thursday, down 0.7% in 24 hours and 1.6% over the past week, CoinGecko data shows. The price decline coincided with the advisor inflow surge, suggesting managed portfolios are buying on weakness rather than chasing momentum. Spot ETF volume reached $20.6 billion in the last 24 hours, with IBIT and FBTC accounting for 62% of total turnover.
Grayscale's head of research told CoinBatmi the firm expects target-date fund providers to begin embedding 1-2% Bitcoin allocations in 2025 vintage products. Vanguard and Fidelity have not announced such plans, but BlackRock's LifePath Index funds added a 1.5% IBIT position in a June 15 prospectus supplement. That allocation, if replicated across the $1.4 trillion target-date market, could drive $21 billion in fresh demand.
The next flow catalyst arrives August 15 when the SEC's 75-day review window closes on spot Ethereum ETF 19b-4 filings. Advisor platforms have signaled they will mirror Bitcoin approvals with equivalent Ethereum allocations, potentially doubling the managed-portfolio crypto sleeve. Custody remains concentrated at Coinbase Prime, which holds 83% of spot Bitcoin ETF assets across the five largest funds.