BlackRock clients sell $60M of IBIT, buy over $20M of ETHA in notable rotation

BlackRock’s institutional clients dumped $60 million worth of the iShares Bitcoin Trust ETF (IBIT) this week while simultaneously scooping up over $20 million in the iShares Ethereum Trust ETF (ETHA). The data, surfaced by Arkham Intelligence, paints a picture of deliberate repositioning rather than panic selling. The numbers behind the rotation IBIT currently holds somewhere between $47 billion and $55 billion in assets under management, making it one of the largest Bitcoin ETFs on the planet. A $60 million outflow against that backdrop is roughly 0.1% of the fund. That capital didn’t vanish into cash or rotate into bonds. At least $20 million of it landed in ETHA, BlackRock’s spot Ethereum ETF. The net effect is still negative for crypto ETFs overall, with roughly $40 million more leaving than arriving. Performance divergence tells a story IBIT, which launched in January 2024, has delivered returns exceeding 35% since inception. ETHA has had a rougher ride. The Ethereum-focused fund began trading in mid-2024 and has declined approximately 48% from its launch price. It doesn’t offer staking yields, which means holders miss out on one of Ethereum’s key value propositions. What this...