Crypto ETFs Bleed $106.7M in Settled Thursday Session as IBIT Sheds $99.6M

Spot crypto ETFs registered $106.7 million in net outflows in Thursday's settled session, with BlackRock's IBIT shedding $99.6 million — more than 90% of the total exit — as the latest issuer reports landed. BlackRock's ETHA followed with a $13.2 million redemption, while Morgan Stanley's MSBT was the only meaningful inflow, absorbing $10.4 million.

Flow Tape

Thursday's tape was lopsided. IBIT alone drove the bulk of the day's outflow, with ETHA and VanEck's HODL extending the redemption pressure across both BTC and ETH wrappers. The inflow side was thin and scattered — MSBT carried the only material BTC bid, and the rest of the demand came from sub-$1.5M tickets in XRP products.

MSBT (Morgan Stanley, BTC): +$10.4M ↑
XRPT (Volatility Shares, XRP): +$1.4M ↑
XRPM (Amplify, XRP): +$1.1M ↑

IBIT (BlackRock, BTC): -$99.6M ↓
ETHA (BlackRock, ETH): -$13.2M ↓
HODL (VanEck, BTC): -$4.6M ↓

Coverage was complete across BTC, ETH, and SOL issuers per InflowScan data, with XRP reporting at 8 of 9 funds. Single-issuer concentration — BlackRock products accounting for both the largest BTC and ETH exits — points to book-level rebalancing rather than a broad-based unwind.

7-Day Context

Trailing cumulative figures are not available in this print, as settling days remain incomplete across the reporting window. Thursday's $106.7 million net redemption is consistent with the recent pattern of BlackRock-led dispersion, with rival issuers neither absorbing the rotation nor compounding it.