BlackRock, the world’s largest asset manager, has once again sold a significant amount of Bitcoin and Ethereum from its crypto ETFs as investors continue cashing out. The firm moved 1,885 BTC (worth $111.6 million) and 59,606 ETH (worth $254.4 million) to Coinbase Prime, a move that typically signals selling activity.
These transactions come after major outflows from BlackRock’s iShares Bitcoin and Ethereum ETFs on August 20. Data from SoSo Value shows the Bitcoin ETF saw outflows of $220 million, while the Ethereum ETF lost $257.78 million. Other major issuers, including Ark Invest, Grayscale, and Fidelity, also reported ETF redemptions, with combined net outflows totaling $311.57 million in a single day.
While BlackRock’s Ethereum ETF was the only ETH fund to register net outflows on the day, Grayscale and Fidelity recorded inflows of $9 million and $8.64 million. However, this was not enough to offset the overall market trend, as Ethereum ETFs collectively posted net outflows of $240.14 million. 
Crypto ETFs have now seen four straight days of redemptions, beginning on August 15. During this period, Bitcoin ETFs alone lost nearly $971 million, forcing issuers like BlackRock and Ark Invest to sell large volumes of BTC to meet redemption demands. Ethereum funds have suffered a similar streak, losing $925.8 million in just four days, including one of the largest daily outflows since their launch.
The continued ETF outflows have fueled bearish sentiment in the crypto market. Over the last seven days, Bitcoin’s price has dropped more than 8%, falling from its recent all-time high of $124,000. Ethereum has seen an even sharper correction, sliding over 10% from around $4,700 to as low as $4,100.
