BlackRock Withdraws $273.9 Million from Bitcoin and Ethereum

On September 16, a net amount of $273.9 million flowed out from BlackRock's cryptocurrency funds. Investors withdrew funds from products based on Bitcoin and two funds with exposure to Ethereum. The entire ETF market for these cryptocurrencies ended the session with an outflow of $520 million, marking the second consecutive day of negative balance. The largest outflow was recorded by the IBIT fund, which saw $144.1 million withdrawn, following $161.7 million the day before, totaling $305.8 million over the two sessions. The ETHA fund experienced an outflow of $110 million, while ETHB saw $19.8 million withdrawn. On Wednesday, funds with exposure to Bitcoin recorded an outflow of $295.9 million, and funds for Ethereum saw $224.1 million withdrawn. The total negative balance for September 15 and 16 amounted to $1.113 billion, of which $521.2 million was attributed to three BlackRock products. In contrast, funds investing in Solana maintained a slight positive balance, with an inflow of $2.7 million to BSOL.

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