BlackRock has continued to offload Bitcoin and Ethereum in heavier stacks even as February begins, and this time, it has made the largest Bitcoin and Ethereum deposits so far in 2026.
With the leading asset management firm showing no signs of slowing down its consistent crypto sell-off activities, it has just deposited $671 million in Bitcoin and Ethereum, according to data from on-chain monitoring platform Lookonchain.
BlackRock pulls off big Bitcoin sale as price retests $74,000
Although BlackRock has been consistent with its Bitcoin and Ethereum sales and the crypto community is familiar with the move from the firm, the large volume of the latest transfer appears to have been triggered by the growing market uncertainty.
According to the data, BlackRock deposited 6,918 BTC worth about $538.6 million and 59,327 ETH tokens worth about $133.6 million to Coinbase a few minutes ago.
The move has sparked more fear across the crypto community, as it has come when Bitcoin and Ethereum are trading heavily on a downside trajectory, showing notable price declines and retesting multimonth lows.
While the nature of the transfer is yet to be clarified by the firm, the nature and frequency of the transfers are perceived as major sell-off attempts, suggesting that the firm has continued to shrink off its holdings amid prolonged market volatility.
Following large BTC and ETH deposits, both cryptocurrencies have shown bearish price moves, with the former trading around $78,304 and the latter $2,373 as of press time.
BlackRock IBIT closes January with highest 2026 outflow
Prior to the major Bitcoin deposit made by BlackRock, the firm has seen its Bitcoin ETF product log the highest outflow it has seen so far in 2026.
During its last trading session seen on Jan. 30, the BlackRock IBIT recorded a massive $528.30 million in outflow, indicating growing institutional sell-offs as investors begin to trade with caution.
Godfrey Benjamin
Tomiwabold Olajide
Arman Shirinyan
Caroline Amosun