BlackRock Clients Rotate Out of Bitcoin ETF, Into Ethereum

BlackRock's institutional clients sold approximately $60 million of the iShares Bitcoin Trust ETF (IBIT) this week while simultaneously buying over $20 million in the iShares Ethereum Trust ETF (ETHA).

The data, reported by Arkham Intelligence, suggests a deliberate repositioning rather than panic selling. The numbers behind the rotation show that IBIT currently holds between $47 billion and $55 billion in assets under management.

A $60 million outflow against this backdrop is roughly 0.1% of the fund's assets. The capital didn't vanish into cash or rotate into bonds, with at least $20 million landing in ETHA instead.

The performance divergence between IBIT and ETHA tells a story: IBIT has delivered returns exceeding 35% since its January 2024 launch, while ETHA has declined approximately 48% from its mid-2024 launch price.