BlackRock-Driven Outflows Drain $310M from US Crypto ETFs

On July 24, U.S. spot Bitcoin and Ethereum ETFs saw significant net outflows, totaling $310.62 million.

The majority of this came from BlackRock's IBIT, which is the largest Bitcoin ETF by assets under management, with approximately $240.1 million in net outflows.

Ethereum ETFs also experienced redemptions, with around $70.7 million leaving the market, primarily driven by BlackRock's ETHA product, accounting for about $52.8 million of this.

This exodus from crypto ETFs coincided with geopolitical tensions and a broader market sell-off in equity markets on that same day.

The price of Bitcoin briefly dipped below $65,000 during the session, which has historically served as a psychological marker for both retail and institutional participants.