BlackRock Clients Sell 26,610 ETH Worth $91M in Major Move

In a notable development for the crypto market, BlackRock clients have sold 26,610 Ethereum worth about $91.09 million, according to on-chain data tracked by Whale Insider and Arkham Intelligence. The selloff represents one of the largest ETH movements tied to institutional portfolios in recent weeks, raising questions about shifting sentiments among major investors. The transactions were detected on Coinbase Prime, suggesting the sales were executed through custodial accounts linked to BlackRock’s institutional clients rather than the firm’s direct holdings.

Despite the recent selloff, data from Arkham Intelligence shows that BlackRock still holds roughly 3.9 million ETH, valued at around $13.6 billion. Ethereum continues to be a core component of the firm’s overall crypto exposure, second only to Bitcoin. BlackRock holds about 795,743 BTC, worth an estimated $81.25 billion. These holdings span BlackRock-managed funds, ETFs, and institutional client accounts, including the IBIT Bitcoin ETF and the recently launched ETHA Ethereum ETF. Both funds have experienced significant trading volume due to rising institutional demand for digital assets.

The timing of the Ethereum sale has drawn market attention. It came just days after Bitcoin ETFs recorded record inflows, while Ethereum ETFs saw outflows of $107 million, according to CoinShares. On-chain data reveals that ETH outflows from BlackRock-linked addresses were funneled through Coinbase Prime to exchange wallets within the last 24 hours. The largest single transfer involved 5,745 ETH, valued at approximately $20.4 million, sent from BlackRock’s Ethereum ETF address (0x9e7) to Coinbase.

While BlackRock has issued no public statement, analysts believe the move reflects portfolio rebalancing rather than a bearish exit. Large funds often adjust their crypto allocations based on performance, liquidity, or client redemptions. Market watchers have noted Ethereum’s price pressure following Bitcoin’s dominance surge, as traders rotate back to BTC after the previous week’s spot ETF inflows.

Ethereum’s price exhibited mild volatility following the news, hovering around $3,480 after briefly dipping below $3,450. The market’s muted reaction implies traders perceive the sale as a routine adjustment rather than a bearish signal. Some investors, however, interpret the selloff as a potential sign of institutional caution ahead of key macroeconomic events, such as the possible delay of Ethereum ETF approvals in Asia. Despite short-term sell pressure, Ethereum continues to attract strong institutional interest due to its dominance in smart contracts, DeFi, and tokenization infrastructure, areas that BlackRock CEO Larry Fink recently described as “the next frontier in finance.”

BlackRock’s client Ethereum sale underscores how institutional dynamics continue to shape the crypto market. Although some funds are trimming exposure, overall adoption among major financial players is still deepening. With crypto assets under BlackRock’s management exceeding $94 billion, the firm remains a defining force in the market. Every move by BlackRock now significantly influences investor sentiment across Wall Street and Web3.