Crypto
BlackRock-Driven Outflows Drain $310M from US Spot Crypto ETFs
July 24 was a tough day for crypto exchange-traded funds (ETFs), with U.S. spot Bitcoin and Ethereum ETFs seeing combined net outflows of $310.62 million.
The majority of this came from Bitcoin ETFs, which shed around $240.1 million in one day of coordinated selling pressure.
BlackRock's IBIT, the largest Bitcoin ETF by assets, accounted for roughly $212 million of these outflows alone, driving the bulk of the redemptions.
Ethereum ETFs followed closely behind, with around $70.7 million in net outflows on July 24.