BlackRock Clients Abandon Bitcoin for Ethereum as Institutional Money Flows In

Institutional investors have begun to shift their capital from Bitcoin to Ethereum, according to recent data. BlackRock clients pulled $202.48 million from the iShares Bitcoin Trust (IBIT) in a single trading day, forcing the issuer to sell cryptocurrency to cover redemptions.

The total net outflows across the entire spot Bitcoin ETF market reached $225.18 million. However, this is not an exit from the industry - institutional capital began flowing into spot Ethereum ETFs, which recorded net inflows of $26.32 million.

BlackRock's ETH fund attracted an additional $11.39 million, indicating a controlled rotation of capital within portfolios. Despite the outflow, Bitcoin remained firmly above $65,400, a sign of its growing independence from traditional markets.