BlackRock’s latest wallet activity points to a sizable repositioning across its Bitcoin [BTC] and Ethereum [ETH] holdings, with $62 million moving through Coinbase Prime.
The transfers involved 656.71 BTC worth about $49.79 million and 5.15K ETH worth roughly $12.28 million. Most Bitcoin moved in two 300 BTC transfers, valued at $22.87 million and $22.64 million, while another 56.71 BTC added $4.28 million.
Meanwhile, its tracked portfolio holds 787.349 K BTC with a total value of $60.15 billion and 3.556 million ETH worth $8.68 billion. As such, the recent Bitcoin transaction represents a very minor percentage of BlackRock’s overall stated holdings of Bitcoin.
Similarly, the recent ETH transaction represents a relatively minor increase to BlackRock’s previously stated holdings.
While the aforementioned transactions do not demonstrate whether the assets are supporting ETF operations or longer-term custodial services. Subsequent wallet transactions will better indicate how BlackRock intends to utilize the funds.
BlackRock’s ETF holdings hold firm
BlackRock’s overall ETF holdings show the broader position BlackRock had behind the transfers it made with IBIT and ETHA. IBIT holds about 795K BTC, while ETHA holds roughly 3.6 million ETH. Both funds have retained substantial holdings despite major price declines.
IBIT’s holdings fell only 9% from nearly 800K BTC in 2025 to the July 2026 low, while Bitcoin lost more than 50%. Since then, the holdings in IBIT have increased to be near the highest level previously seen.
Similarly, ETHA’s holdings decreased by 30% from their peak of 4 million ETH to 2.8 million ETH when Ether decreased by over 60%. However, those holdings have now increased back to 3.6 million ETH.
These results demonstrate that BlackRock’s overall ETF exposure has remained resilient through the downturn.
These two funds represent approximately 4% of Bitcoin’s total circulating supply and approximately 3% of Ethereum’s total circulating supply. Therefore, these positions give BlackRock a sizable presence in both markets.
Institutional demand loses momentum
The trend of flow-shifting was made clear as ETFs for Bitcoin and Ethereum had enjoyed August demand in the month of August. In the weeks ending 4 September, Bitcoin-based ETFs brought in $986.85 million, while Ethereum-based ETFs brought in $218.41 million.
Bitcoin then recorded $462.73 million in weekly outflows by the 11th of September, while Ethereum still attracted $197.11 million. The divergence narrowed after the 15th of September, when Bitcoin lost $450.33 million and Ethereum shed $141.47 million.
On the 16th of September, both assets suffered greater losses than they did previously, with Bitcoin losing $295.90 million and Ethereum losing $224.11 million. The timing of these losses occurred as investor sentiment worsened due to a Senate setback regarding the CLARITY Act.
Together, the flows show institutional demand weakening across both assets, limiting ETF-driven support for prices.
Final Summary
- BlackRock’s Bitcoin and Ethereum holdings remain resilient despite market volatility.
- Rising BTC and ETH ETF outflows now weaken institutional demand and buying support.