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BlackRock’s Bitcoin and Ethereum ETFs show $3.5B net redemption in Q2

SEC filings cited capital-share redemptions of 106,148 BTC for IBIT and 770,839 ETH for ETHA, contributing to a year-over-year swing of $17.4B trust-level share creation versus redemption activity.

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SEC filings indicate BlackRock’s spot Bitcoin and Ethereum ETFs combined for a $3.5 billion net decrease from capital-share transactions during the second quarter, reversing a $13.9 billion increase reported a year earlier. The filings describe a year-over-year swing of $17.4 billion that reflects trust-level share creation and redemption activity, rather than price-driven moves in net asset value.

For iShares Bitcoin Trust (IBIT), the filings show $4.3 billion in contributions for shares issued and $7.2 billion in distributions for shares redeemed for the three months ended June 30, producing a $2.9 billion net decrease. The trust also reduced net assets by over $7 billion during the quarter, according to the filing tables.

For iShares Ethereum Trust (ETHA), the SEC filing shows $943.3 million in contributions and $1.5 billion in distributions, for a $583.4 million net decrease. ETHA’s operations reduced net assets by $1.5 billion during the second quarter, with totals including net realized losses and unrealized depreciation at the trust level.

The activity tables in the filings list 106,148 BTC and 770,839 ETH in rows labeled as assets sold for share redemptions. CryptoSlate reports the footnotes state those rows include in-kind distributions valued at $3.85 billion of Bitcoin and $904 million of Ethereum, and the filings do not identify who initiated the underlying share redemptions.

Latest closeBitcoin $64,800.33 ▲0.8%|Ethereum $1,913.87 ▲0.6%

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