Blackrock Pulls $54M From IBIT as Bitcoin ETF Slide Pushes Assets Below $100B

A third consecutive day of outflows in bitcoin and ether ETFs underscores a shift toward caution, as investors continue to trim exposure after last week’s strong inflow streak. Smaller assets like XRP are still attracting selective capital, while solana products remain dormant.

Key Takeaways:

• Bitcoin ETFs saw $137.8M outflows, led by Blackrock IBIT, marking 3 straight outflow days.
• Ether ETFs lost $87.73M as Fidelity FETH dropped, signaling broader market caution.
• XRP ETFs gained $3.59M via Bitwise, while Solana stayed flat for the third day in a row.

Traders Push $2.04B Through Bitcoin ETFs as Outflows Reshape Outlook

The pullback in crypto exchange-traded funds (ETFs) gathered pace on Wednesday, April 29, with sustained selling pressure across both bitcoin and ether products. What began as a pause now looks more like a short-term repositioning.

Bitcoin ETFs recorded net outflows of $137.8 million, extending the losing streak to three days. Blackrock’s IBIT led the declines with $54.73 million in exits, followed by Fidelity’s FBTC at $36.13 million and Ark & 21Shares’ ARKB at $30.04 million. Grayscale’s GBTC and Franklin’s EZBC added to the pressure, posting outflows of $21.15 million and $6.54 million, respectively.

There was a modest offset. Morgan Stanley’s MSBT drew in $10.81 million, offering a rare pocket of demand. It did little to change the broader picture.

Three days of straight outflows have seen bitcoin ETFs shed close to $500 million. Trading activity, however, remained elevated. Bitcoin ETFs saw $2.04 billion in total value traded, reflecting continued market engagement despite the negative flows. Net assets dipped below the $100 billion mark, closing at $99.27 billion, a level that may carry psychological weight for investors.

Ether ETFs followed a similar path, though with sharper proportional declines. The group posted net outflows of $87.73 million, driven primarily by Fidelity’s FETH and Blackrock’s ETHA, which saw $48.37 million and $37.06 million in exits. Blackrock’s ETHB, typically a steady inflow vehicle, recorded a rare $2.30 million outflow.

Volumes in ether ETFs climbed to $750.60 million, suggesting that while sentiment has weakened, activity has not. Net assets across the segment ended at $13.10 billion.

Beyond the two largest assets, flows told a more nuanced story. XRP ETFs attracted $3.59 million in inflows, split between Bitwise’s XRP product and Franklin’s XRPZ, which brought in $2.12 million and $1.47 million, respectively. Total trading value stood at $9.31 million, with net assets closing at $1.04 billion.

Solana ETFs remained unchanged for a third straight session. No inflows or outflows were recorded, leaving net assets at $840.78 million and reinforcing the current lack of momentum in the segment.

Taken together, the data reflect a market recalibrating after a strong run. The steady outflows across bitcoin and ether suggest profit-taking and a more cautious stance, while isolated inflows in XRP point to selective risk appetite rather than a broad retreat. The rest of the trading week will be critical in determining whether this trend deepens or stabilizes.