Huge Outflow on Blackrock's IBIT Pulls Bitcoin ETFs Into Red Zone

Bitcoin exchange-traded funds (ETFs) saw a second consecutive day of net outflows, shedding $48 million despite inflows across five funds, dragged down by a large exit from Blackrocks IBIT. Meanwhile, ether ETFs celebrated a milestone 15th straight day of net inflows.

Bitcoin ETFs Post Second Day of Outflows as Ether ETFs Mark 3 Weeks of Inflows

The bulls showed up across much of the U.S. spot bitcoin ETFs, but it was not enough to stop a Blackrock-sized exodus. Despite five bitcoin ETFs recording inflows, a $130.49 million outflow from Blackrocks IBIT dominated the day, resulting in a $47.82 million net outflow overall.

Bitwise‘s BITB led the inflow charge with a solid $31.81 million, while Fidelity’s FBTC brought in $22.77 million. Ark 21shares‘ ARKB added $11.45 million, with Grayscale’s Bitcoin Mini Trust and Vaneck‘s HODL chipping in $9.24 million and $7.38 million, respectively. But with IBIT’s drag, the days tone turned red.

Mixed trading action for bitcoin ETFs over the past 7 days. Source: Sosovalue

Still, interest remained high. The total value traded came in at $2.67 billion, and net assets settled at $125.58 billion.

Ether ETFs, however, continued to ride a wave of investor confidence. Friday, June 6, marked the 15th straight day of net inflows, with $25.22 million added across two major funds. Blackrock‘s ETHA contributed $15.86 million, and Grayscale’s Ether Mini Trust followed with $9.37 million.