Key Takeaways
- • BlackRock's spot crypto ETFs recorded roughly $320 million in combined net outflows over the past week, according to on-chain data cited by Finbold, with about $185.1 million leaving its Bitcoin ETF and about $134.9 million leaving its Ethereum ETF (ETHA).
- • The largest single-day redemptions were $201.5 million from the Bitcoin fund on March 27 and $70.8 million from ETHA the same day.
- • The outflows coincided with a broader cooling in institutional crypto demand, though U.S. spot Bitcoin ETFs posted $1.32 billion in net inflows for March 2026, their first positive monthly figure of the year.
- • Spot Ethereum ETFs recorded about $46 million in March outflows, extending a five-month streak of negative flows.
- • The first quarter of 2026 still closed with net outflows of roughly $500 million across U.S. spot Bitcoin ETFs despite the March rebound.
Summary
BlackRock continued to reduce its crypto exposure through its exchange-traded funds over the past week amid broader volatility in financial markets, according to Finbold, citing on-chain data. The world's largest asset manager offloaded approximately $320 million from its Bitcoin and Ethereum ETFs during the period.
The bulk of the selling came from BlackRock's Bitcoin ETF, which shed about $185.1 million across five trading sessions. Pressure was heaviest early in the period, including a $201.5 million withdrawal on March 27, followed by an $86.5 million outflow on April 1. The fund recorded brief inflows on March 30 and March 31, but these were not sufficient to offset the broader downtrend.
Ethereum exposure followed a similar pattern. BlackRock's ETHA fund posted a net outflow of roughly $134.9 million over the same period, with $70.8 million leaving on March 27, $32.3 million on April 1, and $46.7 million on April 2. Finbold characterized the synchronized withdrawals as pointing to a cooling in institutional demand following a stretch of strong inflows at the end of March, though it noted that intermittent inflows suggest some investors are still selectively accumulating.
Across the wider spot ETF market, flows were mixed but weakening. Bitcoin ETFs collectively recorded a sharp daily net outflow exceeding $170 million on April 1, while Ethereum ETFs saw scattered inflows at smaller issuers outweighed by persistent outflows from larger funds.
The weekly figures sit against a longer backdrop. U.S. spot Bitcoin ETFs attracted $1.32 billion in net inflows in March 2026, ending a four-month streak of outflows and marking the first positive monthly figure of the year. That followed heavy redemptions earlier in 2026, when investors pulled roughly $6.4 billion amid a sharp decline in Bitcoin's price from its all-time high above $126,000. Even so, the first quarter closed with net outflows of approximately $500 million. Spot Ethereum ETFs, by contrast, recorded about $46 million in March outflows, extending a five-month streak of negative flows.
The bulk of the selling came from BlackRock's Bitcoin ETF, which shed about $185.1 million across five trading sessions. Pressure was heaviest early in the period, including a $201.5 million withdrawal on March 27, followed by an $86.5 million outflow on April 1. The fund recorded brief inflows on March 30 and March 31, but these were not sufficient to offset the broader downtrend.
Ethereum exposure followed a similar pattern. BlackRock's ETHA fund posted a net outflow of roughly $134.9 million over the same period, with $70.8 million leaving on March 27, $32.3 million on April 1, and $46.7 million on April 2. Finbold characterized the synchronized withdrawals as pointing to a cooling in institutional demand following a stretch of strong inflows at the end of March, though it noted that intermittent inflows suggest some investors are still selectively accumulating.
Across the wider spot ETF market, flows were mixed but weakening. Bitcoin ETFs collectively recorded a sharp daily net outflow exceeding $170 million on April 1, while Ethereum ETFs saw scattered inflows at smaller issuers outweighed by persistent outflows from larger funds.
The weekly figures sit against a longer backdrop. U.S. spot Bitcoin ETFs attracted $1.32 billion in net inflows in March 2026, ending a four-month streak of outflows and marking the first positive monthly figure of the year. That followed heavy redemptions earlier in 2026, when investors pulled roughly $6.4 billion amid a sharp decline in Bitcoin's price from its all-time high above $126,000. Even so, the first quarter closed with net outflows of approximately $500 million. Spot Ethereum ETFs, by contrast, recorded about $46 million in March outflows, extending a five-month streak of negative flows.
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