BlackRock sells Ethereum, buys $366M in Bitcoin ETFs

BlackRock shifted $366 million into Bitcoin through ETFs after reducing its Ethereum holdings. According to data from Arkham Intelligence and SoSoValue, the company’s iShares Bitcoin Trust (IBIT) recorded net inflows of $366.2 million, while the iShares Ethereum Trust (ETHA) saw net outflows of $17.39 million.

Other asset managers also reported inflows, including Fidelity with $134.71 million in FBTC and Bitwise with $40.43 million in BITB. Ethereum products did not attract additional capital, with ETHA being the only major vehicle posting significant withdrawals.

The move mirrors a previous transaction where BlackRock reduced its exposure to Ethereum while increasing its allocation to Bitcoin. Analysts note that this trend highlights institutional preference for Bitcoin as a reserve asset.

At the same time, BlackRock is developing plans to tokenize ETFs on blockchain, strengthening its presence in the crypto sector. On-chain data confirms that the company’s wallets are scaling down ETH positions while expanding Bitcoin holdings, signaling consistent institutional interest in the leading digital asset.