Bitcoin: SEC reveals a $17.4 billion shock at BlackRock

BlackRock’s ETFs linked to Bitcoin and Ethereum experienced a sharp reversal in the second quarter of 2026. Their activity on shares changed from a net increase of $13.9 billion a year earlier to a decrease of $3.5 billion. An annual gap of $17.4 billion that mainly reveals the scale of redemptions.

In brief

The IBIT Bitcoin ETF incurs $2.9 billion in net outflows

BlackRock’s iShares Bitcoin Trust concentrates most of the reversal. This evolution continues a sequence during which BlackRock had already sold over a billion dollars of Bitcoin via IBIT, due to redemption requests presented by investors. Between April and June 2026, IBIT recorded $4.3 billion in contributions linked to the issuance of new shares.

At the same time, distributions associated with the redeemed shares reached $7.2 billion. The balance thus stands at -$2.9 billion. The Ethereum fund ETHA also shows a decrease. Its share creations amounted to $943.3 million, against about $1.5 billion distributed in redemptions. Its net contraction thus reaches $583.4 million. Together, the two BlackRock crypto ETFs lose $3.5 billion on this accounting line.