BlackRock Withdraws $54.7M as Bitcoin ETF Assets Drop Below $100B
BlackRock’s IBIT saw $54.73M withdrawn as bitcoin ETF assets fell to $99.27B on April 29 amid $137.8M in industry outflows; ether ETFs lost $87.73M.
On Wednesday, April 29, bitcoin exchange-traded funds recorded net outflows of $137.8 million, extending a three-day streak of withdrawals and leaving total bitcoin ETF net assets at $99.27 billion.
BlackRock’s IBIT led outflows with $54.73 million in redemptions. Fidelity’s FBTC had $36.13 million withdrawn and Ark & 21Shares’ ARKB posted $30.04 million in outflows. Grayscale’s GBTC and Franklin’s EZBC recorded $21.15 million and $6.54 million in outflows, respectively. Morgan Stanley’s MSBT attracted $10.81 million in inflows during the session. Total trading value across bitcoin ETFs was $2.04 billion, and cumulative outflows over the three-day run approached $500 million.
Ether-focused ETFs reported net redemptions of $87.73 million on April 29. Fidelity’s FETH accounted for $48.37 million of the outflows and BlackRock’s ETHA saw $37.06 million withdrawn. BlackRock’s ETHB recorded a $2.30 million outflow. Trading volume for ether ETFs was $750.60 million, and net assets for the ether ETF group closed at $13.10 billion.
XRP ETFs attracted $3.59 million in inflows, split between Bitwise’s XRP product at $2.12 million and Franklin’s XRPZ at $1.47 million. Total trading value for XRP ETFs was $9.31 million and net assets ended the day at $1.04 billion. Solana ETFs registered no inflows or outflows for a third consecutive session, leaving net assets at $840.78 million.
The three days of outflows followed a recent period of strong inflows into crypto ETFs. Trading activity remained elevated on April 29, with $2.04 billion traded through bitcoin ETFs and $750.60 million traded through ether ETFs.
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