BlackRock has sold Bitcoin and Ethereum worth a combined $664 million amid recent ETF outflows that have dominated the market.
Notably, these outflows come on the back of the ongoing price struggles that have plagued the crypto market, with Bitcoin (BTC) and Ethereum (ETH) shedding off some of the gains from the previous weeks. Specifically, BTC is down over 2% today, while ETH has collapsed by a more substantial 4% within the same period.
BlackRock Dumps $664M in Bitcoin and Ethereum
Amid this downtrend, blockchain tracking resource Lookonchain confirmed that BlackRock had sold millions worth of BTC and ETH tokens from its ETF products. Particularly, the tracking platform revealed that BlackRock moved 101,975 ETH worth $372 million and 2,544 BTC valued at $292 million to Coinbase Prime hours ago.
BlackRock (ETHA) deposited 101,975 $ETH($372M) and 2,544 $BTC($292M) into #CoinbasePrime 3 hours ago.https://t.co/qmuDIrPHc6 pic.twitter.com/BTThuI4mot
— Lookonchain (@lookonchain) August 5, 2025
On-chain data provided by Arkham Intelligence indicates that the asset manager moved the Ethereum tokens over multiple batches of 10,000 ETH, while it transferred the Bitcoin over batches of 300 BTC transactions. These movements coincide with the outflows recorded by BlackRock ETFs over the past 24 hours.
BlackRock’s IBIT and ETHA Record Bearish Flows
Notably, the BlackRock iShares Bitcoin Trust (IBIT) saw an outflow of $292 million worth of Bitcoin yesterday, reflecting the value of the BTC moved by BlackRock hours ago. Meanwhile, the BlackRock iShares Ethereum Trust (ETHA) observed a much higher net outflow figure of $374 million.
For perspective, the $374 million outflow from yesterday marked the BlackRock Ethereum ETF’s largest daily net outflow since its launch last July. This figure beat the previous record of $103.68 million from Dec. 20, 2024, by up to 260%. Moreover, it has already surpassed the combined outflows recorded throughout 2025 before today.
Meanwhile, the $292 million in Bitcoin outflow from yesterday only represents the IBIT’s fourth-largest outflow since launch. It is also the largest outflow over the past two months.
Notably, BlackRock’s outflows contributed massively to the underperformance of Bitcoin and Ethereum ETFs yesterday. For instance, the Bitcoin ETF market saw cumulative outflows of $333.19 million on Aug. 4, with BlackRock’s IBIT accounting for $292 million. Also, Ethereum ETFs recorded $465 million in outflows, and BlackRock’s ETHA accounted for $394 million.
Bitcoin and Ethereum ETFs Seeing Impressive YTD Inflows
However, despite these outflows, both the Bitcoin and Ethereum ETF markets are seeing impressive inflows year-to-date due to their strong performances since the second quarter, after some struggles in March, where the BTC ETFs observed $767 million in outflows, their worst-performing month, and the ETH ETFs saw $403 million worth of outflows.
Currently, Bitcoin ETFs still boast a massive $147.96 billion in net assets, with BlackRock’s IBIT accounting for $84.82 billion, about 57% of the total. Meanwhile, Ethereum ETFs hold up to $20.47 billion worth of ETH as net assets, and BlackRock’s ETHA makes up $10.76 billion, representing 52% of the total figure.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
