BlackRock's IBIT lost $355M in five days, then drew $88M on June 11-12. Ethereum ETFs posted net inflows of $21.4M. The week's shape suggests rotation, not exit.
Alpha Score of 57 reflects moderate overall profile with weak value, moderate quality, strong sentiment. Based on 3 of 4 signals – score is capped at 90 until remaining data ingests.
BlackRock's iShares Bitcoin Trust (IBIT) shed $355 million over five trading days last week, the largest weekly withdrawal since the fund launched. The outflow, tracked by spot ETF flow data, accounted for nearly all of the $333.6 million in combined net redemptions across BlackRock's Bitcoin and Ethereum ETF suite.
The heaviest selling hit on June 8 and June 10, when investors pulled $232.9 million and $148.5 million from IBIT, respectively. A third day, June 9, added another $61.6 million in outflows. The pattern looked like a coordinated de-risking, not a gradual unwind.
Then the week flipped. On June 11, IBIT drew $30.3 million in fresh capital. The next day, another $57.7 million came in. That June 12 inflow helped push total spot Bitcoin ETF flows across the market to $85.9 million for the day, the first positive session after several days of sustained redemptions.
The late-week rebound was not enough to erase the earlier damage. IBIT still closed the five-day period with a net $355 million hole. The shape of the week – heavy outflows early, a sharp reversal late – suggests the selling was event-driven, not structural, according to flow data.
BlackRock's Ethereum ETF products told a different story. The ETHA fund recorded net outflows of roughly $7.2 million over the five days. The ETHB fund, by contrast, pulled in $28.6 million in net inflows, driven by a $26.9 million single-day injection on June 8. Combined, BlackRock's spot Ethereum ETFs posted a net inflow of about $21.4 million for the week.
The divergence matters. Bitcoin ETF outflows dominated the headlines, Ethereum products held steady and even attracted capital. That is not what a uniform risk-off move looks like. It looks like rotation, not exit, the data shows.
Industry-wide data reinforces the split. Spot crypto ETFs collectively recorded roughly $322 million in net outflows over the week. Bitcoin ETFs carried the weight. Ethereum ETFs posted smaller withdrawals. The June 12 reversal, led by IBIT, suggests some of the selling was tactical – traders cutting positions ahead of a macro event, then re-entering, according to flow trackers.
The question for the week ahead is whether the late-week inflows hold. If IBIT sustains positive flows through Monday and Tuesday, the early-June outflows start to look like a one-off shakeout. If the selling resumes, the pattern shifts back to institutional caution. The June 12 print is the data point to track.
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