🚨 BlackRock’s crypto ETFs saw a steep weekly outflow as investors pulled roughly $1.5 billion from Bitcoin and Ethereum funds 🚨
BlackRock’s crypto ETF lineup had a rough week, with investors pulling major capital from both Bitcoin and Ethereum products. The bulk of the withdrawals came from IBIT, while ETH ETFs also saw meaningful outflows.
🔑 Key points
🔹 BlackRock’s Bitcoin and Ethereum ETFs recorded combined net outflows of about $1.459 billion over the week.
🔹 IBIT saw roughly $1.34 billion in outflows over the five days ending June 5, with the heaviest selling between June 1 and June 3.
🔹 BlackRock’s Ethereum ETFs posted about $121.8 million in combined net outflows.
🔹 Bitcoin briefly fell below $60,000 during the same period, reflecting broader risk-off sentiment and a wider crypto market selloff.
🔹 BTC was trading around $61,506 at the time of reporting, nearly 1% higher on the day but about 17% lower on the week.
🔹 The article says the outflows were tied to profit-taking, uncertainty around interest rates, and a general retreat from risk assets.
🔹 Despite the weak week, both ETF groups saw modest inflows near the end of the period, hinting that some institutional demand may still be present at lower prices.
🎯 Bottom line: BlackRock’s crypto funds saw a major weekly pullback, but the late-week inflows suggest the institutional bid may not be gone, just more selective.
https://finbold.com/blackrock-dumped-1-5-billion-of-these-cryptocurrencies-in-a-week/