This week, Bitcoin ( BTC ) exchange-traded funds ( ETFs ) saw four days of consecutive outflows, with another $194.4 million in sales recorded on Thursday, August 21. BlackRock ( IBIT ), the leading fund with over $85 billion in assets under management, alone shed approximately $127.5 million worth of BTC, according to August 22 data on SoSoValue . However, Ethereum ( ETH ) ETFs saw a reversal of fortune, seeing $287.6 million in inflows, with BlackRock ( ETHA ) adding $233.6 million just one day after reporting $257 million in withdrawals. Accordingly, investors are speculating whether we’re looking at a short-term profit strategy or whether we might see a rotation from Bitcoin to Ethereum if the trend continues in the future. U.S. spot ETH ETFs. Source: SoSoValue Is BlackRock betting on Ethereum? BlackRock’s Ethereum holdings have grown 230% since January 1, reaching 3.55 million ETH, worth around $15 billion, according to Arkham Intelligence . More broadly, spot Ethereum ETFs now hold $27.66 billion worth of the crypto. The appeal is quite clear: the cryptocurrency’s proof-of-stake (PoS) design continues to generate 3–5% staking yields. Regulatory clarity has also worked in the asset’s favor, as the U.S. Securities and Exchange Commission (SEC) designated it as a non-security, paving the way for broader ETF adoption. Still, Bitcoin remains BlackRock’s store of value, accounting for around 85% of the firm’s crypto portfolio, while Ethereum drives yield and other assets attempt to seize more niche opportunities. Featured image via Shutterstock The post BlackRock makes a new $366 million crypto move appeared first on Finbold .
