On February 13, 2026, BlackRock faced net outflows from its spot cryptocurrency exchange-traded funds (ETFs), totaling $18.64 million. The withdrawals were attributed to two primary funds: the iShares Bitcoin Trust (IBIT), which experienced a loss of $9.36 million, and the iShares Ethereum Trust (ETHA), which saw a decrease of $9.28 million.
This marked BlackRock as the only major U.S. issuer to report net outflows on that particular day. In stark contrast, the broader market displayed resilience, with U.S. Bitcoin ETFs attracting $15.2 million in fresh capital and Ethereum ETFs receiving $10.2 million in new investments. This divergence suggests that investor confidence in cryptocurrency products remains intact.
While the $18.64 million withdrawal may seem substantial, it is relatively minor compared to BlackRock”s extensive crypto ETF assets, which exceed $40 billion. In fact, this outflow represents less than 0.1% of the firm”s total holdings. Many analysts interpret these withdrawals as a routine adjustment rather than a signal of panic among investors.
ETF flows can fluctuate for various reasons. Some investors may choose to lock in profits by trimming their positions, while others might adjust their exposure in response to market volatility. Such daily fluctuations do not necessarily indicate a shift in long-term investor sentiment.
The cryptocurrency market has experienced heightened volatility in recent weeks, with significant price swings for both Bitcoin and Ethereum. Large investors often make minor adjustments to their portfolios in response to these changes, a strategy aimed at managing risk and maintaining balance.
Visuals accompanying reports of the outflows depicted BlackRock CEO Larry Fink appearing contemplative beside illuminated Bitcoin and Ethereum coins, with red arrows indicating downward trends. This imagery prompted various interpretations, with some viewers perceiving it as a cautionary sign, while others dismissed it as mere short-term noise.
Despite the recent withdrawals, long-term adoption of Bitcoin and Ethereum ETFs remains robust. Since their introduction, these products have attracted billions in institutional investment, appealing to investors for their regulated access to cryptocurrencies. A single day of outflows is unlikely to alter the overarching trend.
Currently, the outflows from BlackRock appear to be a typical portfolio adjustment. Overall ETF inflows continue to exhibit a positive trajectory, indicating that the cryptocurrency market is still garnering interest from both retail and institutional investors. In fast-paced markets, daily data points often do not reflect enduring trends.
