BlackRock (NYSE: BLK), the world’s largest asset manager, recorded almost $1 billion in combined net outflows from its spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) over the five trading sessions from November 9 to November 13.
Notably, BlackRock’s iShares Bitcoin Trust recorded approximately $704.6 million in net outflows during the period.
Its Ethereum products, the iShares Ethereum Trust (NASDAQ: ETHA) and iShares Staked Ethereum Trust (NASDAQ: ETHB), shed a combined $274.1 million.
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Together, the three funds recorded approximately $978.7 million in reported net outflows.
Bitcoin accounted for the largest share of the withdrawals, with IBIT experiencing selling pressure throughout the reported period.
The fund recorded $213.2 million in outflows on November 9, followed by another $78.2 million on November 10.
Withdrawals accelerated on November 11, when investors pulled approximately $269.7 million from the fund, before another $143.5 million left on November 13. The November 12 figure was unavailable.
BlackRock Ethereum ETF performance
Ethereum products also faced substantial withdrawals, although their outflows were concentrated on fewer trading sessions.
ETHA recorded $119.3 million in withdrawals on November 9 and another $129.8 million on November 11. Meanwhile, ETHB lost $20.8 million and $5.3 million on the respective dates, partially offset by $1.1 million in inflows on November 10.
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The selling pressure eased toward the end of the week, with neither BlackRock Ethereum fund recording net outflows on November 13.
Crypto ETFs massive outflows
The withdrawals came amid broader weakness across cryptocurrency investment products. Notably, on November 14, U.S. crypto ETFs tracking Bitcoin, Ethereum, Solana, Hyperliquid and Zcash recorded approximately $1.53 billion in combined net outflows between November 9 and November 13.
Bitcoin funds accounted for the largest share, losing approximately $1.065 billion, while Ethereum ETFs recorded $398.9 million in net outflows.
Despite the substantial withdrawals, the overall weekly figure represented a 16.9% decline from the previous week’s $1.282 billion in outflows.
The broader market downturn has also weighed on investor sentiment. Bitcoin to $67,000 on while Ether dropped below $2,000, highlighting the selling pressure affecting the two largest cryptocurrencies.
The latest withdrawals extend a period of weakness for crypto investment products, suggesting that institutional investment demand remains under pressure as investors reassess their exposure amid heightened market volatility.
Featured image via Shutterstock
