Bitcoin spot ETFs recorded their tenth consecutive day of net outflows on Tuesday, with investors withdrawing $294.6 million, while BlackRock transferred 4,917 BTC (valued at approximately $301 million) to its Coinbase Prime custody account in a move that signals activity in institutional holdings.
The prolonged outflow streak from BTC spot ETFs contrasts with modest inflows into Ethereum products, which recorded $14.89 million in net deposits. XRP ETFs saw $1.86 million in outflows, while Solana gained $521,070. Among smaller-cap assets, Hyperliquid (HYPE) attracted the most significant inflows at $2.85 million.
BlackRock's movement of bitcoin to the Coinbase Prime platform—a institutional-grade custody solution—does not necessarily indicate selling pressure but may reflect portfolio rebalancing or operational adjustments within the asset manager's digital holdings infrastructure. The timing coincides with sustained institutional fund redemptions, suggesting divergence between BlackRock's internal positioning and broader ETF investor sentiment.