Bitcoin spot ETFs experienced outflows of $1.79 billion last week, marking the largest weekly exodus since February 2025, while BlackRock transferred 7,432 BTC (valued at $446.4 million) and 8,150 ETH (worth $12.9 million) to Coinbase Prime on Wednesday.
The broader spot ETF complex showed mixed signals, with Ethereum ETFs declining $273.34 million in outflows. However, Hyperliquid ETF posted inflows of $111.36 million, and XRP ETF recorded positive flows of $22.99 million, suggesting selective investor rotation rather than a blanket exodus from digital assets. Solana ETF saw only $1.81 million in outflows, indicating relatively steady institutional appetite for layer-one alternatives.
BlackRock's movement of nearly $460 million in combined Bitcoin and Ethereum holdings to the Coinbase institutional custody platform may signal preparations for large transaction settlement or portfolio rebalancing, though the timing coincides with elevated volatility in spot ETF flows that warrants close monitoring for further institutional activity.