BlackRock offloaded almost $500 million of this crypto in a week
BlackRock’s spot Ethereum (ETH) ETF recorded nearly $500 million in net outflows over the five trading sessions ending October 9. The outflows from BlackRock’s iShares Ethereum Trust (NASDAQ: ETHA) accounted for most of the $542.2 million withdrawn from U.S. spot Ethereum ETFs over the same period, indicating sustained selling pressure across regulated investment products tracking the second-largest cryptocurrency by market capitalization. The withdrawals extended the sector’s outflow streak to nine consecutive trading sessions, with cumulative net outflows approaching $700 million since September 29. BlackRock’s ETHA recorded net outflows of $31.9 million on October 5, followed by $201.9 million on October 6 and $116.1 million on October 7. Withdrawals then slowed to $71.1 million on October 8 and $56.1 million on October 9. Ethereum ETF inflow/outflow chart. Source: Coinglass The five-day total reached $477.1 million. BlackRock’s second Ethereum ETF, ETHB, re...