🤔 BlackRock Ditches Bitcoin for Ethereum in $561M Move—Altcoin Boom Next?
Next, this strategic move could pave the way for increased attention to other altcoins, potentially leading to a broader altcoin surge.
According to recent analyses, BlackRock has reallocated a substantial portion of its digital asset holdings, moving $561 million from Bitcoin to Ethereum. This strategic decision has sparked discussions about the potential onset of an altcoin boom.
BlackRock sells off $561M in Bitcoin to buy ETH, where it was revealed that this amount matches the value of the net outflow of Bitcoin from addresses associated with BlackRock’s spot Bitcoin exchange-traded fund (ETF), IBIT, over the past two days.
💬 Analysis: BlackRock sells off $561M in Bitcoin to buy ETH@BlackRock recently sold off $561 million in Bitcoin and bought Ethereum (ETH). That’s according to The Crypto Basic, citing @Arkham Intelligence data. The media outlet explained that following the sale of the Bitcoin (…— CoinNess Global June 3, 2025
Moreover, concurrently, the firm acquired 27,241 ETH, worth about $69.25 million, indicating a deliberate pivot towards Ethereum. This move coincided with significant outflows from BlackRock’s iShares Bitcoin Trust ETF, which saw a combined withdrawal of $561 million over two days — marking a notable shift in institutional investment patterns.
🔸 Ethereum ETFs Attracting Institutional Interest
According to a previous Crypto News Flash (CNF) report, one of the key developments this year was the launch of BlackRock’s iShares Ethereum Trust (ETHA) and its growing dominance in DeFi and NFTs. While Bitcoin ETFs experienced outflows, Ethereum ETFs have seen a contrasting trend.
Yesterday, June 3, 2025, Ethereum ETFs recorded 11 consecutive days of positive inflows, totaling $78.2 million on the latest day, according to reports. BlackRock led these inflows with $48.4 million, followed by Fidelity with $29.8 million. This sustained interest suggests growing institutional confidence in Ethereum’s potential.
