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BlackRock recorded massive outflows from its spot Bitcoin and Ethereum exchange-traded funds (ETFs) over the past week.
BlackRock's Bitcoin ETF, IBIT, saw $1.008 billion in outflows between May 18 and May 22.
KEY POINTS
- BlackRock's Ethereum ETF, ETHA, recorded $189.3 million in net outflows during the same period.
- The largest single-day outflow from IBIT was $448.4 million on May 18.
- Institutional interest in BlackRock's crypto ETFs declined sharply but did not signal a total sector exit.
- Analysts attribute the outflows to profit-taking, retail weakness, and inflation concerns related to the Fed.
COMPANIES
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