BlackRock has rebalanced its crypto portfolio by offloading $151 million worth of Ethereum (ETH) and reallocating $290 million into Bitcoin (BTC). Despite this major shift, both cryptocurrencies experienced price declines, with ETH falling 3.29% and BTC slipping 2.09%.
According to Arkham data, wallets linked to BlackRock moved $151.4 million in ETH out and almost immediately bought $289.8 million in BTC. The flows were confirmed by ETF records, with the iShares Ethereum Trust (ETHA) seeing a $151.39 million outflow, while the iShares Bitcoin Trust (IBIT) led the market with $289.84 million in inflows.
This rare match between on-chain transfers and ETF movements highlights BlackRock’s clear pivot from Ethereum to Bitcoin. Other institutional products followed suit: Fidelity’s FBTC added $9.76 million, while Grayscale’s BTC fund captured $28.83 million in inflows. On the Ethereum side, only Fidelity’s FETH ($65.78M) and Bitwise’s ETHW ($20.81M) recorded positive flows, but these gains were overshadowed by BlackRock’s massive ETH outflow.
Market prices quickly reflected the move, with Bitcoin dropping to $109,422 and Ethereum sliding to $4,306. While both assets remain strong performers over the past year—BTC up more than 90% and ETH up 77%—Ethereum faced sharper losses in the short term.
The shift underscores how institutional flows are shaping crypto prices in real time. BlackRock’s decision marked one of the largest single-day ETF redemptions in months, further widening the exposure gap between Bitcoin and Ethereum. Today, BlackRock’s Bitcoin ETF has surpassed $58 billion in net inflows, compared to just $12.97 billion for its Ethereum ETF. This growing divide suggests that institutional investors currently view Bitcoin as the safer and more liquid bet, leaving Ethereum at risk unless new bullish catalysts emerge.
