BlackRock’s Bitcoin and Ethereum ETFs leads market exodus of over $500 million
US spot Bitcoin and Ethereum exchange-traded funds (ETFs) posted another round of withdrawals on Aug. 20, extending their streak of consecutive net outflows to a fourth straight trading day.
According to SoSoValue data, Spot Bitcoin ETFs recorded $311.57 million in outflows for the day, pushing their four-day total to nearly $1 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) led the withdrawals with $220 million in redemptions, which equates to roughly 1,940 BTC. Ark 21Shares’ ARKB followed with $76 million in outflows.
Other issuers, such as Fidelity’s FBTC and Grayscale’s GBTC, posted more modest figures, shedding $7 million and $8 million, respectively.
Meanwhile, Ethereum products also saw heavy redemptions, with $240 million in outflows on Aug. 20. That brought their cumulative four-day losses to more than $925 million.
BlackRock’s ETHA bore the brunt, with $257 million in withdrawals—around 63,280 ETH—marking its second-largest outflow since launch.
In contrast, Fidelity’s FETH and Grayscale’s mini Ethereum fund registered a combined $17 million inflows, offering a small offset to the day’s broader losses.
The latest wave of redemptions illustrates the weakening short-term sentiment amid Bitcoin and Ethereum’s recent price declines. According to CryptoSlate’s data, BTC and ETH prices had posted mild recoveries of around 2% each in the last 24 hours.
The post BlackRock’s Bitcoin and Ethereum ETFs leads market exodus of over $500 million appeared first on CryptoSlate.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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