BlackRock has reduced its Bitcoin (BTC) holdings and increased its investment in Ethereum (ETH). The world’s largest asset manager has been shifting its crypto portfolio, showing a strong institutional preference for Ethereum amid the market’s recent volatility.
Bitcoin Sold, Ethereum Purchased
Recent data from Lookonchain shows that BlackRock transferred 272.4 BTC, valued at around $28.36 million, into Coinbase Prime. Simultaneously, the firm withdrew 12,098 ETH, worth approximately $45.47 million, from the same platform.
BlackRock sold $BTC and bought $ETH!
BlackRock deposited 272.4 $BTC($28.36M) into #CoinbasePrime 5 hours ago and withdrew 12,098 $ETH($45.47M) from #CoinbasePrime in the past hour.https://t.co/qmuDIrPHc6 pic.twitter.com/VjgC7kqESc
— Lookonchain (@lookonchain) October 17, 2025
This action contrasts with a previous move by BlackRock in which it sold Ethereum and Bitcoin, highlighting the firm’s ongoing adjustments in response to client demands.
Institutional Investment Trends Show Divergence
According to SoSoValue data, BlackRock’s move stands in contrast to broader trends observed in institutional crypto investments. The iShares Bitcoin Trust (IBIT), a major Bitcoin ETF, recorded outflows of $29.46 million.
This is part of a wider $536.44 million outflow from U.S. Bitcoin ETFs. Conversely, BlackRock’s iShares Ethereum Trust (ETHA) saw a net inflow of $46.9 million, the largest among all U.S. Ethereum ETFs on that day. This shift points to the growing institutional interest in Ethereum products, even during a broader downturn in the crypto market.
BlackRock Shifts Focus Despite Crypto Declines
While other institutional products, such as Grayscale’s Bitcoin and Ethereum funds and Fidelity’s, have experienced outflows, BlackRock stands out with its Ethereum-focused strategy. The firm’s inflow into Ethereum-based products signals a growing institutional demand for ETH, which may reflect a longer-term reassessment of these assets as Bitcoin faces volatility and downward pressure.
BlackRock’s shift represents a significant shift in its crypto strategy, underscoring an increasing institutional focus on Ethereum, even as Bitcoin remains a growing rival in the market. This shift happens while both assets continue to record declines in the crypto market. Bitcoin recorded a decrease of 1.12% in the past 24 hours, trading at $106,737, while Ethereum also saw a 1.89% drop, trading at $3,824 over the same period.
Evans Kelvin
Brenda Kanana
