BlackRock’s crypto ETFs shed $3.5 billion as last year’s creation boom turns into redemptions

Aug 07, 2026 - 07:00

BlackRock’s spot Bitcoin and Ethereum ETFs recorded a combined $3.5 billion net decrease from capital-share transactions in the second quarter, reversing a $13.9 billion increase a year earlier, according to new SEC filings.

The $17.4 billion year-over-year swing measures trust-level share creation and redemption activity.

The Aug. 6 filings for the iShares Bitcoin Trust ETF (IBIT) and iShares Ethereum Trust ETF (ETHA) use the capital-share line for contributions tied to issued shares less distributions tied to redeemed shares. It is separate from price-driven changes in the trusts’ net assets and investors’ individual profits or losses.

IBIT recorded $4.3 billion of contributions for shares issued and $7.2 billion of distributions for shares redeemed during the three months ended June 30. The difference produced a $2.9 billion net decrease.

ETHA recorded $943.3 million in contributions and $1.5 billion in distributions, resulting in a $583.4 million decrease.

The 2025 IBIT filing and 2025 ETHA filing show the combined $13.9 billion prior-year increase, creating a $3.5 billion decrease against this year.

BlackRock’s IBIT accounted for 90% of a $225 million Bitcoin ETF reversal after a seven-day buying streak

The reversal erased 22.5% of the preceding $999.3 million inflow streak, while Bitcoin ended the session below $65,000.

Jul 24, 2026 · Liam 'Akiba' Wright

IBIT’s operations reduced net assets by over $7 billion during the second quarter, while ETHA’s reduced them by $1.5 billion. Those totals include net realized losses and unrealized depreciation at the trust level.

Infographic comparing BlackRock IBIT and ETHA capital-share transactions: a combined $13.912 billion net increase in Q2 2025 versus a $3.534 billion net decrease in Q2 2026, a $17.446 billion deterioration. — BlackRock’s IBIT and ETHA shifted from a $13.9 billion capital-share increase in Q2 2025 to a $3.5 billion decrease in Q2 2026.

The activity tables placed 106,148 BTC and 770,839 ETH in rows labeled as assets sold for share redemptions. The footnotes say those rows include in-kind distributions valued at $3.85 billion of Bitcoin and $904 million of Ethereum, without disclosing the unit-level split.

The full token quantities cannot be treated as wholly open-market sales, and the filings do not identify who initiated the underlying share redemptions.

Ethereum just outpaced Bitcoin with $365 million in ETF inflows, but on-chain data shows the real bottom isn't in yet

ETH/BTC crossed 0.030 after funds drew $365 million, though valuation and exchange-flow indicators leave the longer-term recovery unresolved.

Aug 2, 2026 · Oluwapelumi Adejumo

Three August sessions offer a limited counterweight

As of Aug. 6, Farside Investors’ latest completed Bitcoin ETF row showed a $196.8 million IBIT inflow on Aug. 5, while its Ethereum ETF table showed $50.3 million for ETHA. Across Aug. 3-5, IBIT captured $478.5 million in inflows, and ETHA drew $83.8 million.

After suffering a brutal $265 million mass exit, seven different Bitcoin ETFs simultaneously roar back to life

Seven funds took in cash with none negative, yet IBIT still supplied 65.5% of the Aug. 3 total.

Aug 5, 2026 · Liam 'Akiba' Wright

As a nominal scale marker only, $562.3 million equals 15.9% of $3.5 billion. If August sustains the same $187.4 million combined daily average, it would take about 19 trading sessions for BlackRock funds to accumulate a similar amount.

That shows why persistence over weeks is the more meaningful test.

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