TLDR
-
BlackRock sold 5,362 BTC worth $561M and bought 27,241 ETH valued at $69M via Coinbase Prime.
-
The Bitcoin sell-off aligned with ETF outflows totaling $561M across May 30 and June 2.
-
Ethereum ETFs saw strong inflows, including $78.17M on June 2 alone, favoring ETH accumulation.
-
BlackRock stock rose 0.54% to $983.32, reflecting investor confidence in its crypto strategy shift.
-
The move signals a portfolio rebalance and growing institutional demand for Ethereum over Bitcoin.
BlackRock shifted its crypto portfolio by offloading $561 million in Bitcoin and purchasing $69 million worth of Ethereum. The movement involved on-chain transfers from ETF-linked wallets to Coinbase Prime. This transition came during sharp Bitcoin ETF outflows and growing Ethereum ETF inflows.
Bitcoin Outflows Reflect ETF Rebalancing Strategy
BlackRock transferred 5,362 BTC to Coinbase Prime between May 30 and June 2, totaling approximately $561 million in value. Most transactions occurred in 300 BTC batches, executed via institutional-grade trading infrastructure. These withdrawals coincided with outflows from BlackRock’s iShares Bitcoin Trust.
BlackRock sold $BTC and bought $ETH.https://t.co/qmuDIrP9my pic.twitter.com/220YCdZNxp
— Lookonchain (@lookonchain) June 3, 2025
On May 30, BlackRock moved 4,113 BTC, while another 1,249 BTC was transferred on June 2. ETF flow data confirms a $430.8 million outflow on May 30, followed by $130.4 million on June 2. The combined $561 million total aligns with the on-chain BTC movement during the same period.
The coordinated transfers suggest asset rebalancing, as all BTC was processed through Coinbase Prime. This platform serves institutional clients and ensures secure settlement. Consequently, analysts believe the BTC either exited ETF custody or moved to another BlackRock investment structure.
Ethereum Inflows Increase Amid Strategic Accumulation
BlackRock acquired 27,241 ETH worth $69.25 million via Coinbase during the same period. The purchase coincided with continued capital inflows into Ethereum ETFs. Ethereum spot funds recorded $78.17 million in net inflows on June 2 alone.
The iShares Ethereum Trust attracted $48.4 million in inflows, while Fidelity’s Ethereum Fund recorded $29.78 million. No other ETF providers saw inflows on the same day. The ETH inflows reflected a growing institutional preference for Ethereum during the same time.
Data from SoSo Value confirmed 11 consecutive days of ETH ETF inflows by June 2. The total net inflow across these funds reached $3.12 billion since launch. These figures underscore Ethereum’s rising appeal compared to the current slowdown in Bitcoin ETF participation.
BlackRock Stock Climbs Despite Crypto Selloff
BlackRock stock (NYSE: BLK) gained 0.54%, trading at $983.32 during afternoon hours on June 3. After a brief drop early in the day, the stock gradually regained ground. The price held above the $978.07 baseline for most of the trading session.
BlackRock, Inc. (BLK)
This stock performance followed news of strategic shifts in crypto holdings, suggesting investor confidence in BlackRock’s portfolio adjustments. While BTC holdings decreased, Ethereum allocations grew and rising ETF inflows. These moves likely supported BlackRock’s long-term digital asset diversification strategy.
BlackRock’s timely execution of large-scale crypto transactions demonstrated institutional confidence and operational precision. The firm’s simultaneous Bitcoin reduction and Ethereum accumulation highlight evolving trends in digital asset allocation. As crypto markets mature, institutional behavior remains a key driver of asset performance.
