BlackRock Images crypto currency exchange rate (ETFs) recorded more than $650 million in combined losses over the past five trading days, which is consistent with weak market sentiment.
In particular, BlackRock’s iShares Bitcoin (BTC) Trust (IBIT) was the biggest cash-out, posting outflows of about $461.2 million between May 11 and May 15.
The largest one-day decline came on May 13, when the fund lost $284.7 million, followed by $136.2 million in outflows on May 15. Although IBIT briefly recovered with $144.1 million in inflows on May 14, the overall weekly performance remained negative.
Ethereum (The price of ETH). BlackRock’s ETHA fund recorded a total of $186.7 million, while ETHB received another $6 million, which resulted in the Ethereum ETF’s outflow of approximately $192.7 million for the week.
The biggest drop in Ethereum ETFs occurred on May 12, when ETHA alone posted $102 million in outflows, followed by $50.4 million withdrawn on May 15.
Although Ethereum ETFs, including Fidelity’s FETH and VanEck’s ETHV, invested in small amounts, they failed to offset the sector’s major weakness. BlackRock’s combined Bitcoin and Ethereum ETF outflows averaged $653.9 million over five days.
A major crypto ETF market has emerged
A bigger one crypto currency The ETF market was also heavily redeemed, with Bitcoin ETFs recording more than $630 million in losses on May 13 alone, while Ethereum ETFs posted their worst daily losses during the week.
Despite the challenges, the cumulative total since its inception topped $58 billion following a strong surge in early May.
The withdrawal came amid rising Treasury yields, concerns about persistent inflation, and political tensions that have fueled economic growth.
In addition, the exit came as the US administration advanced the Digital Asset Market Clarity Act through the Senate Banking Committee in a bicameral vote on May 14.
The bill seeks to clarify crypto oversight by giving the CFTC authority over digital assets such as Bitcoin while introducing additional consumer protections.
Analysts see the regulations as a way to encourage long-term institutionalization, although recent ETFs suggest investors will be cautious given the profitability and economic uncertainty.
This came as Bitcoin fell below $80,000, while Ethereum hovered around $2,100 as markets reacted to US economic data and risk sentiment.
