Bitcoin and Ethereum Shock: BlackRock Dumps $66M This Week

BlackRock sold $22.3M in Bitcoin and $44.41M in Ethereum as ETHA saw outflows while IBIT posted strong inflows.

BlackRock completed notable cryptocurrency transactions this week as market conditions remained uncertain. The firm sold $22.3 million worth of Bitcoin and $44.4 million worth of Ethereum.

These sales occurred during a period of ETF outflows, price pressure, and heightened derivatives activity. The moves drew attention because BlackRock remains a leading institutional holder of digital assets.

Ethereum ETF Outflows and Trading Activity

On January 22, BlackRock’s spot Ethereum ETF, trading under the ticker ETHA, recorded a net outflow of 15,112 ETH.

According to Trader T, the outflow equaled about $44.41 million based on prices at the time. It ranked among the larger single-day withdrawals from the fund this year.

1/22 BlackRock ETH ETF $ETHA
Net flow: -15,112 ETH ($-44.41 million)
Volume traded: $0.7 billion https://t.co/hPIB6vRO8b pic.twitter.com/3w1xUgyiG3

— Trader T (@thepfund) January 23, 2026

Despite the outflow, ETHA reported trading volume of about $0.7 billion on the same day.

The volume showed continued buying and selling interest among investors. Activity remained steady even as net assets declined.

Market participants often see large ETF flows during periods of price uncertainty.

Funds can experience redemptions and strong trading volume at the same time. This pattern was visible across several crypto linked investment products during the week.

Bitcoin ETF Flows and Portfolio Adjustments

According to a post on X from AshCrypto, BlackRock also sold Bitcoin worth about $22.3 million during the same week. The transaction took place as Bitcoin ETF flows showed mixed activity across issuers.

Some funds recorded outflows, while others continued to attract new capital.

BREAKING: 🇺🇸 BlackRock has sold $22.3 million worth of Bitcoin and $44.4 million worth of Ethereum. pic.twitter.com/pCVrZ9rFTi

— Ash Crypto (@AshCrypto) January 23, 2026

Recent weeks have shown mixed ETF behavior across the crypto market. Both Bitcoin and Ethereum ETFs have recorded periods of outflows.

These movements have aligned with broader market declines and shifting investor positioning.

Portfolio adjustments are common for large asset managers during volatile periods. Firms may rebalance holdings to manage exposure and liquidity.

These actions can occur even when long-term allocations remain unchanged.

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Market Conditions and Broader Context

The timing of the sales matched a wider market downturn across digital assets. Crypto prices weakened as several large options contracts reached expiration.

Such events often bring increased short-term volatility.

Options expirations can lead to rapid price movements as positions are closed or rolled.

Combined with lower risk appetite, this environment has driven cautious behavior among investors. ETF flows have reflected this trend.

BlackRock has continued to describe crypto and tokenization as core investment themes for 2026.

The firm remains a major holder of Bitcoin and Ethereum through its funds. The recent sales occurred within a broader strategy that includes active risk management and portfolio oversight.