U.S. spot Bitcoin ETFs recorded their biggest daily outflow in weeks on Wednesday after investors pulled more than $733 million from the market. BlackRock’s IBIT accounted for most of the withdrawals, while Fidelity’s FBTC and Grayscale’s GBTC also posted heavy redemptions. The sharp selling added fresh pressure on Bitcoin, which slipped below $73,000 during the session.
The market downturn accelerated after renewed geopolitical tensions rattled global investors. U.S. airstrikes near the Strait of Hormuz pushed traders away from risk assets, triggering broader weakness across crypto markets. Bitcoin fell 3.32% over 24 hours to around $73,318 at press time. Meanwhile, ETF issuers faced additional selling pressure as investor withdrawals forced funds to offload underlying Bitcoin holdings.
BlackRock dominates despite heavy withdrawals
BlackRock’s IBIT stayed the largest Bitcoin ETF even after leading the day’s outflows. The fund still holds more than $64 billion in cumulative inflows. It also recorded nearly $1.49 billion in trading activity during the session, showing strong investor turnover despite the selling pressure.
Fidelity’s FBTC and Grayscale’s GBTC also posted steady withdrawals, losing about $60.30 million and $104.76 million, respectively. GBTC’s long-term outflows have now crossed $26 billion since its conversion into a spot ETF. Investors continue to rotate capital toward lower-fee products across the market.
Total Bitcoin ETF assets remained close to $96.45 billion, according to SoSoValue data. That level still represents about 6.4% of Bitcoin’s total market value. Cumulative inflows since launch stayed strong at roughly $56.02 billion, even after the recent wave of selling in May.
Ethereum and Solana ETFs hold investor attention
Spot Ethereum ETFs came under pressure on May 27, recording $67.15 million in outflows. Even so, total cumulative inflows stayed above $11.51 billion. BlackRock’s ETHA continued to lead the segment with more than $6.1 billion in net assets, strengthening its position as the dominant Ethereum ETF product.
Spot Solana ETFs continued to draw steady inflows of more than $557 million, pointing to consistent investor demand for alternative crypto exposure. Market data showed cumulative inflows rose above $1.13 billion, with Bitwise’s SOL fund leading the market at nearly $687.5 million in net assets.
Fidelity and Grayscale also held positions in the sector, while trading activity remained active across listed products. Daily volume reached about $33 million, showing continued participation despite broader market caution.
Earlier, market attention also shifted to a large dark-pool transaction involving BlackRock’s IBIT. On Tuesday, Bloomberg ETF analyst Eric Balchunas reported a $1.3 billion private trade covering 29.2 million shares. Galaxy researcher Alex Thorn described it as the largest such transaction he had ever seen, underscoring unusual institutional activity in Bitcoin ETFs.
Overall crypto sentiment stayed cautious. CoinMarketCap data showed the Fear and Greed Index remained in “fear” territory. However, institutional participation continued through ETF flows and sustained trading volumes across major funds.
Also Read: Bitcoin and Crypto Down Over 3% as Geopolitical Tensions Trigger Fresh Sell-Off
