BlackRock dumped over $500 million of these cryptocurrencies this week

This week’s cryptocurrency market sell-off has been reflected in the broader exchange-traded fund ( ETF ) sector, with BlackRock among the entities experiencing significant outflows. Specifically, the asset manager’s Bitcoin ( BTC ) and Ethereum ( ETH ) spot ETFs collectively recorded a net outflow of approximately $524 million for the week ending October 17, ￰0￱ BlackRock iShares Bitcoin Trust (IBIT) led the retreat, with roughly $279 million in outflows during the ￰1￱ heaviest withdrawals occurred on October 17, when IBIT shed about $268.6 million, marking one of its largest single-day outflows in recent months. Similarly, the BlackRock Ethereum Trust (ETHA) saw $245 million in net outflows, weighed down by a $146 million withdrawal on Friday and another $310 million outflow earlier in the ￰2￱ figures mirror a broader negative trend across the spot crypto ETF ￰3￱ Bitcoin ETFs registered around $1.23 billion in outflows during the same period, reflecting sustained selling pressure following the mid-October market ￰4￱ ETF inflows/outflows chart.