BlackRock continued to reduce its exposure to the cryptocurrency market through its exchange-traded funds (ETFs) over the past week, amid broader volatility in financial markets.
Indeed, on-chain data indicates that the world’s largest investment firm offloaded approximately $320 million from its Bitcoin and Ethereum ETFs.
The bulk of the outflows came from BlackRock’s Bitcoin (BTC) ETF, which shed about $185.1 million across five trading sessions. The most significant pressure emerged earlier in the period, including a steep $201.5 million withdrawal on March 27, followed by continued selling on April 1 with an $86.5 million outflow.
Although the fund briefly attracted inflows on March 30 and March 31, these were not enough to offset the broader bearish trend, with momentum turning negative again in early April.
Ethereum ETF outflows
Ethereum (ETH) exposure followed a similar pattern, with BlackRock’s ETHA fund posting a net outflow of roughly $134.9 million over the same period. The sharpest single-day decline occurred on March 27, when $70.8 million exited the fund, while additional pressure persisted on April 1 and April 2, with outflows of $32.3 million and $46.7 million, respectively.
The synchronized withdrawals across both assets point to a broader cooling in institutional demand, particularly after a period of strong inflows toward the end of March.
While intermittent inflows suggest that some investors are still selectively accumulating, the overall direction indicates caution, likely driven by short-term market uncertainty and profit-taking behavior.
Across the wider spot ETF market, flow data reflects a similarly mixed but weakening backdrop. Bitcoin ETFs collectively recorded large swings, including a sharp daily net outflow exceeding $170 million on April 1.
Although certain funds posted isolated inflows, these were overshadowed by heavier redemptions concentrated in key products.
Ethereum ETFs also exhibited uneven participation, with inflows scattered across smaller issuers but outweighed by persistent outflows from larger funds.
U.S. crypto ETF rebounds in March
It is worth noting that U.S. spot Bitcoin ETFs recorded a strong rebound in March 2026, attracting $1.32 billion in net inflows and ending a four-month streak of outflows, the first positive monthly figure of the year and since October 2025.
The turnaround came after heavy redemptions earlier in 2026, when investors pulled roughly $6.4 billion amid a sharp decline in Bitcoin’s price from its all-time high above $126,000.
Despite the March gains, the first quarter as a whole still ended with net outflows of approximately $500 million.
Meanwhile, spot Ethereum ETFs remained under pressure, recording about $46 million in March outflows and extending a five-month streak of negative flows.
