Bitcoin and Ethereum Lead BlackRock Outflows to Start the Week

TL;DR

• BlackRock experiences a combined net outflow of over $77 million from its Bitcoin and Ethereum ETFs.
• iShares Bitcoin Trust (IBIT) saw 658 BTC withdrawn, while iShares Ethereum Trust (ETHA) lost 14,802 ETH.
• Despite these movements, both funds maintain substantial holdings, with IBIT holding 781,651 BTC and ETHA containing 3,167,035 ETH, indicating continued investor confidence in major cryptocurrencies.
  

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BlackRock begins the week with notable crypto outflows as investors adjust their positions. On March 23, the asset manager reported a total net cash outflow exceeding $77 million from its two flagship spot cryptocurrency ETFs, reflecting active portfolio rebalancing.

Mar 23 Update:#Bitcoin ETFs:
1D NetFlow: -646 $BTC(-$46.11M)🔴
7D NetFlow: +1,331 $BTC(+$94.95M)🟢#Ethereum ETFs:
1D NetFlow: -27,679 $ETH(-$60.34M)🔴
7D NetFlow: -77,486 $ETH(-$168.92M)🔴#Solana ETFs:
1D NetFlow: +3,588 $SOL(+$326K)🟢
7D NetFlow: +216,214 $SOL(+$19.68M)🟢… pic.twitter.com/VUtYHw4hzF

— Lookonchain (@lookonchain) March 23, 2026

BlackRock Crypto Outflows Highlight Investor Movements

The iShares Bitcoin Trust (IBIT) led the withdrawals with 658 BTC, valued at approximately $46 million. Lookonchain data indicates this was the largest single-day cash outflow among spot Bitcoin ETFs. However, IBIT remains heavily invested, with net holdings reaching 781,651 BTC, worth more than $54.7 billion. Over the past week, the fund saw inflows of 2,471 BTC, suggesting that longer-term investors continue to support Bitcoin accumulation.

Meanwhile, BlackRock’s iShares Ethereum Trust ETF (ETHA) recorded a net outflow of 14,802 ETH, equal to around $31.74 million. This brings total Ethereum sales over the past seven days to 35,041 ETH, roughly $75.12 million. The fund still holds 3,167,035 ETH, with a notional value of $6.79 billion, underscoring that substantial institutional support remains for Ethereum.

Market Rebound Offsets Outflow Effects

Interestingly, the ETF outflows coincided with an upward move in cryptocurrency prices. Bitcoin climbed 2.36% in the past 24 hours to trade near $70,410, while Ethereum gained 2.67%, reaching approximately $2,136. Analysts note that macroeconomic announcements, including talks of a potential US-Iran agreement, contributed to this bullish sentiment. The market rally shows that short-term outflows from ETFs do not necessarily reflect weakening demand for digital assets.

Outlook Suggests Ongoing Institutional Engagement

Despite the net withdrawals, the sustained high holdings in both Bitcoin and Ethereum ETFs indicate confidence among institutional investors. Market observers see these outflows as part of routine liquidity adjustments rather than a trend of exit from crypto exposure. As global interest in Bitcoin and Ethereum continues to grow, large-scale investors appear prepared to maintain significant positions, supporting stability and gradual growth in the sector.