Lookonchain, a leading on-chain monitoring platform, has reported significant capital outflows from BlackRock's spot cryptocurrency ETFs. Over the past 10 trading days, the world's largest asset manager saw its Bitcoin and Ethereum funds lose a combined 30,119 BTC (approximately $1.92 billion) and 161,829 ETH (roughly $320 million), bringing the total net outflow to $2.24 billion. This translates to an implied average price of around $63,750 per Bitcoin and $1,977 per Ether during the period. In ETF terminology, a net outflow indicates that share redemptions exceeded creations over the measurement window.
The launch of spot Bitcoin and Ethereum ETFs provided traditional institutional investors with a regulated and straightforward path into digital assets. BlackRock's iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA), which track the spot prices of BTC and ETH respectively, allow investors to gain exposure through ordinary brokerage accounts without managing on-chain wallets or private keys. Since their approvals in 2024, both products rapidly grew to become among the largest of their kind, making their flow data a widely followed indicator of institutional sentiment. While the absolute outflow figure over this 10-day stretch is notable, its significance in percentage terms relative to the funds' total assets under management remains unclear pending further disclosure.
It is important to note that the Lookonchain data covered only BlackRock's ETFs, leaving out flows from other major issuers like Grayscale, Fidelity, and Bitwise. As a result, a single data point cannot paint a full picture of the crypto ETF landscape. The capital movements of other providers will need to be monitored for a more comprehensive view. This news was first reported by crypto outlet ChainCatcher, citing the Lookonchain figures.