Crypto ETF issuer and asset management giant BlackRock executed a massive, aggressive accumulation of Bitcoin and Ethereum over three consecutive days in early January 2026, while simultaneously seeing notable outflows from its spot Bitcoin ETF, highlighting a complex institutional landscape.
According to on-chain data from LookOnChain, BlackRock accumulated a combined $1.027 billion worth of crypto between January 6 and 8. This included 9,619 Bitcoin (BTC), valued at approximately $878 million, and 46,851 Ether (ETH), worth about $149 million. The largest single-day purchase occurred on January 6, with the firm snapping up 3,948 BTC ($371.89 million) and 31,737 ETH ($100.23 million). This aggressive buying spree is seen as a strong signal of institutional confidence, potentially setting a bullish tone for the year.
Concurrently, data from Whale Insider revealed that on January 7, BlackRock's iShares Bitcoin Trust (IBIT) experienced net outflows of $130.79 million. This selling pressure was part of a broader trend, with the total net outflow across all U.S. spot Bitcoin ETFs reaching $487 million on the same day. The move followed several days of strong inflows at the start of 2026 and represents one of the first notable outflow days for the BlackRock fund this year.
Market analysts provided context for the seemingly contradictory signals. While the $130 million outflow drew attention, it represents a very small fraction of BlackRock's total assets under management (over $10 trillion) and its Bitcoin ETF holdings, which are in the tens of billions. Some observers characterized the selling as likely routine portfolio rebalancing or profit-taking, especially with Bitcoin trading near recent highs around $90,730 and Ethereum at $3,142 at the time of reporting.
The news also referenced activity from other major players. During the recent holiday season, BlackRock moved 1,134 BTC and 7,255 ETH to Coinbase Prime, initially sparking sell-off fears. Meanwhile, Michael Saylor's MicroStrategy, the largest corporate Bitcoin holder, continued its accumulation strategy, purchasing an additional 1,287 BTC in early January, bringing its total holdings to 673,783 BTC.
