BlackRock's Bitcoin and Ethereum ETFs surge as derivatives markets face steep declines

Spot Bitcoin and Ethereum ETFs saw significant net inflows in mid-June. BlackRock’s products led the way for both assets during this period. Meanwhile, derivatives markets experienced sharp contractions in open interest across major exchanges. On 15 June, spot Ethereum ETFs recorded total net inflows of $9.5876 million. BlackRock’s ETHA alone attracted $17.3358 million, making it the largest contributor that day.

The next day, spot Bitcoin ETFs brought in $10.0643 million in net inflows. BlackRock’s IBIT topped the list with $16.3526 million in new investments.

At the same time, derivatives markets faced a broad decline in open interest. On Binance, Bitcoin’s open interest swung nearly $878 million, moving from +$258 million to -$620 million within 24 hours. Ethereum’s open interest on the same platform dropped $821 million, shifting from +$131 million to -$690 million in under 48 hours. The combined swing for both assets on Binance reached roughly $1.7 billion.

The trend extended beyond Binance. Bybit and Deribit also reported negative open interest changes, signalling widespread deleveraging across venues. The Bitcoin open interest reset on Binance marked one of the sharpest single-day reversals since April 2026. The mid-June period highlighted strong demand for spot crypto ETFs, particularly BlackRock’s offerings. Simultaneously, derivatives markets underwent rapid deleveraging, with major exchanges recording steep declines in open interest. The combined movements reflected a notable shift in market positioning.