BlackRock’s cryptocurrency exchange-traded funds ( ETFs ) experienced significant investor withdrawals over the past week, with Bitcoin ( BTC ) and Ethereum ( ETH ) products recording a combined net outflow of approximately $1.5 billion. The bulk of the selling pressure came from Bitcoin, where BlackRock’s iShares Bitcoin Trust (IBIT) saw investors pull roughly $1.34 billion over five days ending June 5. At the same time, the asset manager’s Ethereum ETFs recorded combined outflows of about $121.8 million, bringing total withdrawals across the two leading cryptocurrencies to $1.459 billion. Data shows BlackRock’s IBIT fund faced persistent selling pressure throughout the week, with the largest withdrawals occurring between June 1 and June 3, when investors pulled more than $1.17 billion from the Bitcoin ETF. Total Bitcoin spot ETF inflows. Source: Coinglass Although the fund recorded a modest inflow on June 4, it was insufficient to reverse the broader trend. By the end of the five days, IBIT had posted net outflows of approximately $1.34 billion. The withdrawals coincided with a difficult week for Bitcoin, as weakening risk appetite and a broader cryptocurrency market sell-off pushed the asset below the $60,000 level at one point. At the time of reporting, Bitcoin was trading at $61,506, up nearly 1% over the previous 24 hours but down about 17% on the week. Ethereum ETF outflows BlackRock’s Ethereum ETFs also recorded notable withdrawals during the five days. While ETHA saw net outflows of $124.8 million, ETHB attracted about $3 million in inflows, bringing the firm’s total Ethereum ETF outflow to approximately $121.8 million. Total Ethereum spot ETF inflows. Source: Coinglass The withdrawals reflect a broader trend across the cryptocurrency ETF market, where investors have reduced exposure amid profit-taking, uncertainty over interest rate expectations, and a wider shift away from risk assets. The selling pressure has weighed on Bitcoin, Ethereum, and the broader digital asset market, contributing to lower market capitalization and heightened volatility. Despite the weak weekly performance, there were signs that institutional sentiment may be stabilizing. Both ETFs recorded modest inflows toward the end of the week, breaking extended streaks of net withdrawals and suggesting some investors may be taking advantage of lower prices. The post BlackRock dumped $1.5 billion of these cryptocurrencies in a week appeared first on Finbold .
