BlackRock just dumped over $600 million of these two cryptocurrencies

In a move that rattled crypto markets, BlackRock’s spot Ethereum ETF recorded its largest single-day outflow since inception, with 101,975 ETH, worth roughly $375 million exiting the fund on August 4, according to SoSoValue data retreived by Finbold on August 5. This sudden withdrawal not only broke a 21-day streak of consistent inflows but also reduced the fund’s Ethereum holdings by about 3%, signaling a sharp shift in institutional positioning.

The selloff wasn’t isolated to Ethereum.

U.S. spot Bitcoin ETFs saw $333 million in net outflows on the same day, led by BlackRock’s IBIT , which accounted for $292 million of that figure.

In total, Ethereum ETFs experienced $465 million in redemptions, with BlackRock’s ETHA leading the exodus.

BlackRock Ethereum ETF outflow.

Source: SoSoValue Ethereum price analysis Ethereum held steady around $3,669 despite the large-scale withdrawals, highlighting the market’s resilience even in the face of significant institutional rebalancing.

For some analysts, this points to opportunistic profit-taking following ETH’s recent climb above $4,000, while others see it as an early signal of a broader risk-off trend emerging in institutional crypto exposure.

Whether these outflows prove to be a temporary blip or the start of a new phase in institutional repositioning will likely become clearer in the coming sessions, as markets digest the shift in ETF flows and reassess Ethereum’s near-term trajectory.

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