BlackRock’s iShares Ethereum Trust attracted an estimated $46.9 million on Oct. 16, a rare bright spot on a rough day for digital asset funds.
Across U.S. spot cryptocurrency ETFs, investors pulled about $587.7 million, with bitcoin products accounting for $530.9 million of the total. Ethereum focused ETFs posted roughly $56.8 million in redemptions overall, making BlackRock’s haul stand out.
The BlackRock vehicle acquired about 11,770 ether at an average price near $3,987, according to flow tallies for the session.
Bitcoin slipped below $110,000 and ether fell 2.87% to $3,849.62, moves consistent with a broader de-risking that hit crypto and equities alike.
The split tape underscores how leadership inside the asset class can change quickly. Heavy selling in bitcoin ETFs does not always spill over to ether in lockstep, particularly when investors rotate within the complex.
At times an altcoin rally heats up, and flows tilt toward ether or other large cap tokens even as bitcoin consolidates. That pattern appeared in miniature on Wednesday, with BlackRock’s fund taking cash while rivals faced withdrawals.
Despite the single day setback, year to date net flows into U.S. crypto funds remain above $20 billion, a figure that reflects the steady institutionalization of the market.
Listings and corporate participation have helped push the asset class into mainstream portfolios. Earlier this year, Gemini goes public on Nasdaq, while corporate treasuries kept buying, as when Strategy expands bitcoin trove. Policy remains a swing factor after Senate Democrats reveal a plan to reshape U.S. crypto oversight.
ETF flow data can be a useful real-time read on sentiment and liquidity. Large bitcoin redemptions tend to weigh on spot prices and futures bases, but an offsetting bid for ether can support relative performance within majors.
If BlackRock keeps sourcing coins on inflow days, that steady demand can help absorb sell pressure during bouts of deleveraging.
