BlackRock's IBIT Draws Most Bitcoin ETF Outflows
IBIT accounted for most of the $236 million in outflows from U.S. spot bitcoin ETFs, while ether and XRP funds saw inflows.
Key Takeaways
- U.S. spot bitcoin ETFs saw about $236 million in outflows on Monday, mainly driven by BlackRock's IBIT and Fidelity's FBTC.
- Bitwise's BITB was the only bitcoin fund to attract about $8 million, while the other nine funds showed no net change.
- Ether, XRP, Solana, and Hyperliquid ETFs posted inflows, while bitcoin traded just above $77,000 on Wednesday morning.
U.S. spot bitcoin ETFs saw about $236 million (€204 million) in outflows on Monday, with BlackRock's IBIT accounting for most of them. At the same time, several smaller crypto ETFs kept attracting money, showing that demand across the segment is still uneven.
IBIT Draws the Most Outflows
According to SoSoValue, IBIT accounted for about $201 million (€173 million) of the total outflows. Fidelity's FBTC followed with another $44 million (€38 million). Bitwise's BITB was the only fund on the other side and attracted about $8 million (€6.9 million), while the other nine funds showed no net inflows or outflows.
That fits a broader pattern in which IBIT has more often driven a large share of the movement in U.S. spot bitcoin ETFs over the past few months. In June, the fund accounted for 73% of the total $1.79 billion (€1.5 billion) in outflows from that category. Earlier, on May 28, IBIT also posted an outflow of $528 million (€456 million), the second-largest one-day withdrawal since the launch in January 2024.
Other Crypto ETFs Stay Green
While bitcoin funds lost money, ether ETFs kept seeing inflows for the twelfth day in a row. Those funds added about $11 million (€9.5 million). XRP funds brought in $14 million (€12.1 million), while Solana and Hyperliquid also saw small inflows.
That split matters for European crypto followers, because it shows that institutional demand is not going only to Bitcoin. Since the approval of the spot bitcoin ETF in January 2024, the market for exchange-traded crypto investment products has become more tied to traditional money flows, and that makes daily shifts between funds increasingly important to watch.
Bitcoin Stays Around $77,000 (€66,400)
Bitcoin traded just above $77,000 (€66,400) in Asian trading on Wednesday morning, about 2% lower than a week earlier. Solana and Zcash were among the biggest losers over the past 24 hours at about 3%, while XRP, Tron, and Dogecoin fell around 2%. Bitcoin, Ether, BNB, and Hyperliquid all moved within about 2% of flat.
