BlackRock $300M IBIT Redemption Extends Bitcoin Outflows

BlackRock’s IBIT recorded a $300.38 million redemption in the opening session of the final week of June, extending bitcoin ETF net outflows to an eight-day streak. Total bitcoin ETF net outflows for the day were $231.10 million, with total value traded at $2.13 billion and aggregate net assets at $73.19 billion.

Other bitcoin funds saw mixed flows. Ark & 21Shares’ ARKB drew $49.97 million and Grayscale’s GBTC added $35.10 million. Morgan Stanley’s MSBT gained $7.26 million and Vaneck’s HODL added $3.83 million. Grayscale’s Bitcoin Mini Trust posted a $22.95 million outflow and Fidelity’s FBTC lost $3.94 million.

Ether ETFs posted $30.04 million in net redemptions. BlackRock’s ETHB led ether outflows with a $37.55 million withdrawal and Grayscale’s Ether Mini Trust had a $5.72 million outflow. Offsetting inflows included BlackRock’s ETHA at $5.87 million, Fidelity’s FETH at $5.25 million and Grayscale’s ETHE at $2.10 million. Total ether ETF value traded was $547.38 million and net assets closed at $8.59 billion.

Altcoin ETFs attracted net inflows. XRP ETFs added $15.34 million, led by Bitwise’s XRP product with $11.49 million and Canary’s XRPC with $3.40 million; total XRP net assets were $971.63 million on $12.50 million traded. Solana ETFs gained $5.52 million, led by Bitwise’s BSOL at $4.63 million and Fidelity’s FSOL at $892,130, with total solana net assets of $876.37 million on $75.02 million traded. HYPE ETFs added $2.23 million, all to Bitwise’s BHYP, with net assets at $334.70 million on $17.11 million traded.

The session’s flows were concentrated in a small number of funds: one large redemption at IBIT accounted for the majority of bitcoin outflows, while a set of altcoin ETFs recorded fresh inflows.