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BlackRock Suffers $70 Million Bitcoin ETF Loss as Outflows Continue for a Fourth Consecutive Day
On Wednesday, cryptocurrency exchange-traded fund (ETF) markets remained under pressure, with Bitcoin funds extending their losing streak to four consecutive sessions, while Ethereum ETFs recorded outflows for an eighth straight day.
Key Takeaways
- Bitcoin ETFs lost $70.47 million, with BlackRock’s IBIT leading outflows at $61.45 million.
- Ethereum ETFs lost $28.14 million for the eighth consecutive session, driven by outflows from BlackRock’s ETHA fund.
- XRP ETFs gained $1.45 million thanks to Canary’s XRPC, while outflows from Solana ETFs paused on Wednesday.
XRP ETFs Continue Attracting Capital While Solana Products Pause After Strong Gains
The selling wave across digital asset ETFs slowed in volume but not in direction. Institutional investors continued reducing exposure to Bitcoin and Ethereum products even as overall trading activity remained relatively stable.
Spot Bitcoin ETFs recorded net outflows of $70.47 million, extending a difficult stretch for the category after several days of aggressive withdrawals.
BlackRock’s IBIT once again accounted for the majority of the decline, recording $61.45 million in outflows.
FBTC from Fidelity Investments added another $10.12 million in outflows, reinforcing cautious sentiment surrounding the largest Bitcoin-linked funds.
MSBT from Morgan Stanley delivered the session’s only positive flow with a modest $1.11 million inflow, although this was far from enough to offset broader selling pressure.
Trading Activity Remains Elevated
Despite the outflows, trading activity remained elevated. Trading volume in Bitcoin ETFs reached $1.36 billion, while total net assets edged slightly higher to $101.12 billion, indicating that gains in underlying asset prices helped soften the impact of investor withdrawals.
Bitcoin ETFs have now recorded four consecutive days of outflows totalling $1.34 billion.
Ethereum ETFs displayed a similar pattern. The category recorded net outflows of $28.14 million, extending its negative streak to eight consecutive trading days.
The main source of weakness remained BlackRock’s ETHA ETF, which lost $30.94 million during the session. Fidelity Investments’s FETH ETF also posted an additional $1.60 million in outflows.
However, there was a small offsetting factor. BlackRock’s ETHB attracted $4.39 million in inflows, continuing to serve as one of the few Ethereum-focused products still seeing occasional institutional demand.
Trading volume for Ethereum ETFs reached $350.41 million, while combined net assets closed at $12.24 billion.
XRP Remains One of the Few Positive Exceptions
Beyond the major assets, activity was considerably more subdued.
XRP ETFs recorded a modest net inflow of $1.45 million, entirely driven by Canary’s XRPC fund.
Although relatively small, the inflow continues a recent trend of selective interest in XRP investment products despite overall market caution.
Trading volume in XRP ETFs reached $11.25 million, while net assets closed the day at $1.13 billion.
Meanwhile, Solana ETFs recorded no activity during the session. Net assets for the category ended the day at $976.81 million, reflecting a pause after several recent sessions of consistent inflows.
XRP ETFs have now recorded inflows for five consecutive days.
New HYPE ETFs Gain Momentum
A recent addition to the crypto ETF market has been the launch of spot ETFs tracking Hyperliquid from Hyperlink.
On Wednesday, the category attracted $25.46 million, continuing a strong launch period during which nearly $50 million in inflows were recorded over six days.
Overall Market Picture
The broader ETF market continues to signal a transitional period. Bitcoin and Ethereum remain under persistent institutional pressure, while smaller assets such as XRP and newer products like Hyperliquid attract targeted investment flows.
For now, the pace of selling appears to be slowing, but investor sentiment remains cautious. The next few sessions will likely determine whether the market stabilises or merely pauses before another round of repositioning.
