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

Aug. 7, 2026 at 3:50 am GMT • 2 min read 01 BlackRock’s spot Bitcoin and Ethereum ETFs saw a $3.5 billion net capital-share decrease in Q2, after a $13.9 billion gain a year earlier. 02 That swing reflects share creations and redemptions, not market prices, and it hit IBIT and ETHA trust-level activity directly. 03 August inflows offered a small offset, but the filings suggest only sustained buying will show whether redemptions have eased.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 redeeme...