Recent data from blockchain analytics platforms reveals mixed institutional activities involving BlackRock in the cryptocurrency space. According to Whale Insider and Arkham Intelligence, BlackRock clients sold $146.1 million worth of Ethereum (ETH) on October 18, 2025, signaling potential caution or rebalancing amid Bitcoin's strong institutional demand and Ethereum's lagging short-term performance.
In contrast, earlier reports from October 17, 2025, indicated that BlackRock itself deposited $28.36 million in Bitcoin (BTC) into Coinbase Prime while withdrawing $45.47 million in Ethereum, suggesting a strategic shift. This move coincided with a $46.9 million net inflow into BlackRock's iShares Ethereum Trust (ETHA), the largest among U.S. Ethereum ETFs, while U.S. Bitcoin ETFs saw outflows of $29.46 million.
The broader market experienced over $1 billion in liquidations within 24 hours, with Bitcoin accounting for $369 million and Ethereum $262 million. Despite this volatility, Ethereum's declining open interest points to possible stabilization, with experts like Fundstrat's Tom Lee describing its setup as constructive and potential for a short squeeze.
These developments underscore the fluidity of institutional crypto allocations, driven by factors such as ETF approvals, network fees, and macroeconomic trends. BlackRock's Bitcoin holdings remain substantial, exceeding $100 billion, but Ethereum is increasingly viewed as a key asset in evolving portfolio strategies.
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