BlackRock offloaded over $330 million of these cryptocurrencies in a week

BlackRock’s spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) recorded a combined net outflow of approximately $333.6 million over the past week. The ouflow highlights continued institutional caution toward digital assets despite signs of stabilization at the end of the week.

Data from spot Bitcoin ETF and Ethereum ETF flow trackers shows that the majority of the selling pressure came from BlackRock’s iShares Bitcoin Trust (IBIT), which saw nearly $355 million leave the fund over the five days. Meanwhile, BlackRock’s Ethereum ETFs attracted modest inflows that partially offset Bitcoin-related redemptions. The latest figures come as U.

S. crypto ETFs continue to experience a broader risk-off environment that has weighed on digital asset investment products throughout June. The largest daily withdrawals occurred on June 8 and June 10, when investors pulled $232.

9 million and $148.5 million, respectively. Additional outflows of $61.

6 million were recorded on June 9. However, the data also shows a notable turnaround late in the week. On June 11, IBIT attracted $30.

3 million in fresh capital, followed by another $57.7 million on June 12. The positive flow on June 12 helped lift total spot Bitcoin ETF inflows across the market to $85.

9 million for the day. Total Bitcoin spot ETF inflows. Source: Coinglass Despite the rebound, the late-week inflows were not enough to offset the substantial withdrawals recorded earlier in the week, leaving IBIT with a net five-day outflow of roughly $355 million.

While BlackRock’s Bitcoin ETF experienced heavy redemptions, the firm’s Ethereum ETF products delivered a more resilient performance. Ethereum mixed flows BlackRock’s ETHA fund recorded net outflows of approximately $7.2 million during the five days.

However, the company’s ETHB fund attracted $28.6 million in net inflows, resulting in a combined net inflow of about $21.4 million across BlackRock’s spot Ethereum ETF products.

The Ethereum flow shows that ETHB benefit