As the cryptocurrency market continued to struggle this week, BlackRock, the world’s largest investment firm, reduced its exposure to several digital assets.
Over the week, the company offloaded a combined $374 million worth of Bitcoin (BTC) and Ethereum (ETH).
The asset manager’s Bitcoin spot ETF, IBIT, recorded total outflows of $261.30 million over the five-day stretch.
The bulk of the selling pressure was concentrated midweek. On February 12 alone, the fund saw $157.60 million in outflows, marking the largest single-day decline during the period.
That followed another heavy session on February 11, when $73.40 million exited the product. Additional sales of $20.90 million were recorded on February 9 and $9.40 million on February 13.
Although there was a brief inflow of $26.50 million on February 10, it was not enough to offset the broader weekly decline.
Ethereum followed a similar pattern, with BlackRock’s ETHA fund registering $112.70 million in total outflows during the same timeframe. The heaviest losses came on February 9, when $45 million left the fund. Selling persisted on February 11, with $29.40 million in outflows, and on February 12, with another $29 million withdrawn.
Across the wider ETF market, flows were volatile throughout the week. Bitcoin spot ETFs experienced sharp swings, including a major industry-wide net outflow exceeding $400 million on February 12, following strong inflows earlier in the week on February 9 and February 10.
Ethereum spot ETFs also posted significant aggregate redemptions on February 11 and February 12, despite modest positive flows on February 9 and February 10.
Institutions cautious on Bitcoin and Ethereum
The pattern suggests a risk-off tone emerging midweek, with institutional investors pulling capital after earlier bouts of accumulation.
While isolated inflow days indicate that demand has not disappeared entirely, the overall trend for the week reflected cautious positioning and broad-based profit-taking across both Bitcoin and Ethereum ETFs.
Bitcoin has continued to struggle, trading below the $70,000 mark at $68,885 as of press time, up over 4% in the past 24 hours.
Meanwhile, Ethereum is attempting to hold the $2,000 support zone, valued at $2,052, up more than 6% over the past day.
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