BlackRock sold $550 million of these cryptocurrencies on Monday
Photo: Finbold
BlackRock’s (NYSE: BLK) spot Bitcoin ( BTC ) and Ethereum ( ETH ) exchange-traded funds ( ETFs ) recorded almost $550 million in combined net outflows on November 2. Specifically, BlackRock’s iShares Bitcoin Trust (IBIT) accounted for the largest share of withdrawals, recording $405.3 million in net outflows. Its iShares Ethereum Trust (ETHA) registered another $138.3 million in withdrawals, while the iShares Staked Ethereum Trust (ETHB) shed $4.6 million. The combined outflows reached $548.2 million, highlighting weakening institutional demand for cryptocurrency investment products.
Source: Finbold
