BlackRock Rotates Out of Bitcoin, Pours $69M Into Ethereums

BlackRock has executed a notable portfolio adjustment, reducing its exposure to Bitcoin while increasing its Ethereum holdings.

Between May 30 and June 2, the asset management giant transferred over $560 million worth of BTC to Coinbase Prime and simultaneously acquired more than 27,000 ETH.

Blockchain data reveals that 5,362 BTC, worth around $561 million, were moved in multiple large transactions. This coincided with significant redemptions from the iShares Bitcoin Trust—$430.8 million on May 30 and another $130.4 million on June 2—mirroring the on-chain movements.

While shedding some of its Bitcoin exposure, BlackRock ramped up its Ethereum bet by purchasing 27,241 ETH, valued at roughly $69 million. The inflows into the iShares Ethereum Trust on June 2 totaled $48.4 million, leading all Ethereum ETFs that day. Fidelity trailed with $29.78 million in net inflows, while other issuers saw no gains.

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Ethereum ETFs have now registered 11 straight days of net inflows, amassing over $3.1 billion since their launch—highlighting growing investor interest even as Bitcoin ETF flows cool off.

Bitcoin’s recent volatility appears to be influencing these shifts. The cryptocurrency surged to a record $112,000 before pulling back to $103,000. At the time of writing, it hovers near $106,600. Analysts say BlackRock’s asset movements reflect strategic rebalancing, likely triggered by ETF redemption mechanics.

Despite the recent reductions, BlackRock remains one of the largest institutional holders of Bitcoin, with more than 661,000 BTC still under management—worth around $70 billion. Market watchers continue to expect the firm’s Bitcoin trust to eventually surpass all others in BTC holdings.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.