BlackRock sharply reduced its exposure to the cryptocurrency market over the past week, with data showing nearly $1 billion in combined outflows from its spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs).
The pullback came as the broader digital asset market struggled to find direction amid sustained selling pressure and weakening investor sentiment.
The bulk of the selling came from Bitcoin, with BlackRock’s iShares Bitcoin Trust posting net weekly outflows of about $522.4 million. The heaviest drawdown occurred on January 21, when IBIT alone recorded roughly $356.6 million in outflows.
Additional selling followed later in the week, including $101.6 million on January 23 and $56.9 million on January 20, outweighing a modest $15.1 million inflow earlier in the period.
Ethereum saw similarly strong selling pressure. In this case, BlackRock’s iShares Ethereum Trust registered total weekly outflows of approximately $416.6 million.
The largest single-day outflow came on January 21, when ETHA shed about $250.3 million. This was followed by further declines of $92.3 million on January 20, $44.4 million on January 22, and $44.5 million on January 23, offset only slightly by a $14.9 million inflow on January 16.
ETFs accelerate crypto market downturn
In total, BlackRock offloaded about $939 million worth of Bitcoin and Ethereum in a single week. These moves were part of a wider trend across U.S. spot crypto ETFs, which collectively logged persistent net outflows as institutional investors reduced exposure.
While a handful of funds managed small inflows on isolated days, they were outweighed by broad-based selling in both Bitcoin and Ethereum products.
The ETF-driven selling coincided with a broader downturn in the crypto market. Bitcoin and Ethereum traded under sustained pressure throughout the week, as investors reacted to macro uncertainty, declining risk appetite, and fading momentum following earlier rallies.
Market sentiment weakened as persistent outflows reinforced concerns about near-term downside risks.
To this end, Bitcoin fell below the crucial $90,000 level, while Ethereum dropped below $3,000.
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