Why Did BlackRock Sell Bitcoin and Ethereum Simultaneously in Early February
Why Did BlackRock Sell Bitcoin and Ethereum Simultaneously in Early February
As BlackRock simultaneously reduced its exposure to Bitcoin and Ethereum amid volatile market conditions in early February, the direction of institutional capital once again emerged as a key variable shaping the market.
According to cryptocurrency-focused media outlet Finbold on February 7 (local time), the world’s largest asset manager BlackRock recorded net outflows totaling $343.3 million from its Bitcoin (BTC) and Ethereum (ETH) spot ETFs over five trading days from February 2 to 6. This move came as the broader cryptocurrency market experienced extreme volatility in early February.
The majority of the outflows occurred in BlackRock’s Bitcoin spot ETF, IBIT. During the period, IBIT saw net outflows of approximately $191.3 million. Although there was a notable inflow on February 2, expanding Bitcoin price volatility afterward triggered large-scale redemptions, and risk-off sentiment became increasingly evident toward the end of the week.
The Ethereum spot ETF ETHA also failed to escape selling pressure. From February 2 to 6, ETHA recorded net outflows of about $152 million. Funds withdrew $82.1 million on February 2, $58.9 million on the 4th, $8.5 million on the 5th, and $45.4 million on the 6th, while the $42.9 million inflow on the 3rd proved insufficient to reverse the overall trend.
However, some analysts interpret BlackRock’s moves as not signaling a full-scale exit. On certain trading days, new funds flowed into Bitcoin spot ETFs, indicating that institutional demand has not completely faded. Still, these inflows were overshadowed by larger redemptions, with prevailing views suggesting that broader market stress weighed more heavily on investment decisions.
These capital outflows coincided with unstable price action, as Bitcoin briefly fell below $65,000 and Ethereum failed to hold the $2,000 level. With macroeconomic uncertainty, large-scale liquidations, and weakening momentum following the January rally, investors appeared to prioritize capital preservation. Nevertheless, compared with the massive outflows of about $1.2 billion recorded in late January, this week’s withdrawals were relatively limited, leading to interpretations that the market is merely pausing to catch its breath during a correction.
*Disclaimer: This article is for investment reference only, and no responsibility is taken for any investment losses based on this content. The information should be interpreted solely for informational purposes.*
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