BlackRock Sells $230M BTC, Buys $17.7M ETH While iShares Bitcoin Trust Gains $47.7M
IBIT•BlackRock's iShares Bitcoin Trust saw $440.3M outflow on June 1 and $342.3M on June 3, ending a 13-day selling streak with a $47.66M inflow on June 4 after net inflows resumed. Simultaneously, BlackRock sold 3,671 BTC ($230M) and acquired 10,566 ETH ($17.71M) in an on-chain rebalancing.
1. On-Chain Rebalancing
BlackRock sold 3,671 BTC (approximately $230 million) and purchased 10,566 ETH (about $17.71 million) from its digital asset allocation, marking a shift toward Ethereum exposure based on relative valuations and market dynamics.
2. IBIT Fund Flows
The iShares Bitcoin Trust recorded $440.3 million of outflows on June 1 followed by $342.3 million on June 3, extending a 13-day selling streak that was broken on June 4 with a $47.66 million net inflow, indicating renewed institutional demand.
3. Institutional Appetite and Market Impact
The combination of Ethereum accumulation and the Bitcoin Trust’s flow reversal underscores active portfolio management by BlackRock, which may help stabilize ETF liquidity and reflect broader institutional confidence in digital assets.
