BlackRock's Bitcoin and Ethereum ETF has seen an outflow of nearly $2 billion, causing market sentiment to turn cold.

The US spot Bitcoin (BTC) and Ethereum (ETH) ETFs have once again encountered a large-scale redemption wave. On August 20, the total outflow of funds from the two major assets' ETFs exceeded $550 million in a single day, marking the fourth consecutive trading day of net outflows, with a cumulative outflow of nearly $2 billion over four days. Products under BlackRock have become the "disaster zone" of this dumping, indicating that market popularity has clearly cooled in the short term amid recent price fluctuations.

Bitcoin ETF: BlackRock IBIT Redeems $220 Million Leading the Decline

According to SoSoValue data, on August 20, the daily capital outflow for spot Bitcoin ETF was 315.57 million USD, marking the fourth consecutive day of net outflow, with a cumulative total close to 1 billion USD over four days.

BlackRock iShares Bitcoin Trust (IBIT): outflow of $220 million (approximately 1,940 BTC)

Ark 21Shares Bitcoin ETF (ARKB): outflow of $76 million

Fidelity Wise Origin Bitcoin Fund (FBTC): Outflow of 7 million USD

Grayscale Bitcoin Trust (GBTC): Outflow of 8 million USD

Ethereum ETF: ETHA single day outflow of 257 million USD

Ethereum ETF also experienced large-scale redemptions, with a single-day outflow of 240 million USD on August 20, accumulating losses of over 925 million USD in four days.

BlackRock iShares Ethereum Trust (ETHA): Outflow of $257 million (approximately 63,280 ETH), marking the second largest single-day outflow since the fund's launch.

Fidelity Ethereum Fund (FETH) and Grayscale Mini Ethereum Fund: a total inflow of 17 million USD partially offset the losses of the day.

Reasons for Capital Outflow and Changes in Market Sentiment

Recently, the prices of BTC and ETH have both experienced a pullback, and investors are choosing to lock in profits or reduce their positions to hedge during the fluctuations.

CryptoSlate data: In the past 24 hours, BTC and ETH have both slightly rebounded by about 2%, but have still not been able to reverse the trend of continuous outflows of ETF funds.

Short-term sentiment weakens: Continuous redemption wave shows that institutions and retail investors have decreased confidence in the short-term market, and market funds are temporarily withdrawing from risk assets.

Potential Impact and Market Observation

Price Pressure: Large-scale ETF redemptions may increase selling pressure in the spot market.

Increased Fluctuation: If capital outflow continues, BTC and ETH may face greater price fluctuations.

Key observation: Attention should be paid to the ETF fund flows for the remaining trading days of this week, as well as the impact of macroeconomic data and regulatory news on the market.

Conclusion

BlackRock's Bitcoin and Ethereum ETFs saw a combined outflow of nearly $2 billion in just four days, highlighting the market's cautious attitude amid recent price fluctuations. Although BTC and ETH experienced a slight rebound in the short term, capital pressure persists, and the subsequent trend will depend on whether ETF capital flows can stem the losses, as well as changes in the macroeconomic and regulatory environment. For more ETF and cryptocurrency market updates, please follow the official Gate platform.