BlackRock Crypto ETF Assets Evaporate by $29.4 Billion…What Happened?

▲ BlackRock, Bitcoin (BTC), Ethereum (ETH)/AI-generated image ©

BlackRock's cryptocurrency Exchange Traded Fund (ETF) assets have reportedly decreased by approximately $29.4 billion in the first half of this year alone. The decline in Bitcoin (BTC) and Ethereum (ETH) prices primarily drove the overall decrease in assets under management, with Ethereum experiencing the largest drop.

According to crypto media outlet Finbold on July 3 (local time), an analysis of Arkham data revealed that the value of BlackRock's client assets, specifically Bitcoin and Ethereum ETF holdings, fell from $78.36 billion on January 1 to $48.98 billion on June 30. This represents a decrease of $29.38 billion, or 37.5%, during the first half of the year. As most of BlackRock's crypto portfolio consists of Bitcoin, the overall decline was significantly impacted by Bitcoin's price correction.

Bitcoin's holding value decreased from $68.05 billion to $44.62 billion during the same period, a drop of $23.43 billion, or 34.43%. In terms of percentage decrease, however, Ethereum was hit harder. BlackRock's Ethereum holding value fell from $10.31 billion to $4.36 billion, a decrease of $5.95 billion, or 57.71%. Most of the first-half losses occurred in the first quarter, when Bitcoin and Ethereum holding values combined decreased by $20.47 billion.

However, the decrease in Bitcoin assets in the first quarter was more due to price decline than large-scale fund outflows. While Bitcoin's price dropped by 25.31% from $88,341 to $65,982, BlackRock's holdings actually increased by 14,950 BTC, or 1.94%, from approximately 770,290 BTC to 785,240 BTC. In the second quarter, Bitcoin's price further declined from $68,232 to $60,136, leading to an additional $2.96 billion decrease in holding value.

Ethereum experienced both a price decline and a decrease in holdings simultaneously. During the first quarter, Ethereum's price fell by 33.12% from $2,966 to $1,983, and BlackRock's holdings also decreased by 410,750 ETH, or 11.82%, from approximately 3.47 million ETH to 3.06 million ETH. Consequently, the holding value dropped by $4.23 billion, from $10.31 billion to $6.08 billion. In the second quarter, the price further declined from $2,104 to $1,610, resulting in an additional $1.72 billion decrease in holding value.

The media outlet noted that the trend in the first half of this year significantly differed from last year. In the first half of 2025, BlackRock's Bitcoin and Ethereum portfolio value increased by $23.91 billion, or 43.66%, from $54.77 billion to $78.67 billion. At that time, Bitcoin accounted for most of the increase, and Ethereum also grew by $599.78 million. In contrast, this year, the overall market weakness, including the crypto market slump, a decrease in Bitcoin ATMs, and a reduction of 26,000 Bitcoin millionaire addresses, is analyzed to have affected BlackRock's crypto ETF assets under management.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*