According to Farside Investors, BlackRock’s US spot Bitcoin ETF (IBIT) recorded US$138.2 million in net inflows on August 12, 2025; source: Farside Investors farside.co.uk/btc/ and Farside Investors twitter.com/FarsideUK/status/1955113446162239952. IBIT uses a cash-creation model where authorized participants deliver cash and the trust purchases bitcoin with proceeds, so positive net inflows reflect net share creations associated with underlying BTC acquisition by the fund; source: iShares Bitcoin Trust IBIT prospectus on sec.gov and product page on ishares.com. Traders monitor daily spot Bitcoin ETF flows as a timely indicator of US institutional demand for BTC and to contextualize near-term order flow; source: Farside Investors flow dashboard farside.co.uk/btc/.