Bitcoin and Ethereum spot exchange-traded funds experienced marked capital outflows on Wednesday, with BTC recording a net outflow of $228.88 million as part of a nine-consecutive-day redemption streak, while ETH shed $121.35 million extending losses to thirteen straight days, according to data from SoSoValue.
BlackRock, the world's largest asset manager, moved 2,448 BTC (valued at approximately $180 million) and 28,683 ETH ($57.6 million) to Coinbase Prime, its institutional custody wallet, according to blockchain intelligence tracking by Arkham Intelligence. The transfer brings total BlackRock crypto holdings transferred to exchange custody to approximately $238 million.
The concurrent ETF outflows and institutional custody movement reflect mixed signals in the spot crypto market, with some altcoins bucking the broader downtrend: XRP attracted $1.77 million in inflows, HYPE recorded $1.72 million, and Solana posted modest positive flows of $484,370. The prolonged outflow period in flagship crypto ETFs suggests institutional repositioning amid ongoing market volatility.