BlackRock Inc. (NYSE: BLK ) accelerated its Bitcoin ( BTC ) and Ethereum ( ETH ) sell-off on May 13 amid rising risk of crypto capitulation. BlackRock deposited 861 BTC, worth approximately $69.59 million, to Coinbase Prime on Wednesday, according to on-chain data from Arkham Intelligence . Additionally, the management firm sent 44,691 ETH, valued at around $103.15 million, to Coinbase Prime. On-chain analysis for BlackRock’s BTC and ETH. Source: Arkham Intelligence As such, BlackRock dumped $172.68 million in crypto assets, thereby signaling a rising institutional shift. Furthermore, BlackRock’s iShares Bitcoin Trust ( IBIT ) has now recorded 5 consecutive days of cash outflows totaling $235.21 million, bringing its total assets to $66.27 billion at the time of publication. IBIT daily inflows. Source: SoSoValue Similarly, BlackRock’s iShares Ethereum Trust (ETHA) has recorded low demand over the past few days. On Tuesday, ETHA saw a net cash outflow of more than $102 million, thereby reducing its net asset holdings to $7.17 billion at press time. ETHA daily inflows. Source: SoSoValue BlackRock’s crypto selloff signals bearish sentiment After leading spot crypto accumulation in early April, BlackRock’s investors have shifted to a near-term bearish outlook. For instance, Bitcoin price gained nearly 12% in April 2026 after IBIT accumulated over $2 billion. However, the flagship coin has struggled to rally beyond $82,000 in the recent past, as Finbold noted , fueled by bearish IBIT investors. With extreme shorts in Bitcoin’s derivative markets, the flagship coin dropped over 2% in seven days, trading at roughly $80,210 at press time. BTC/USD 7-day chart. Source: Finbold Consequently, if the demand for Bitcoin and Ethereum from BlackRock’s investors rises over the coming days, a potential rebound could be seen, and vice versa. Furthermore, the Ethereum price has been highly correlated with BTC year to date amid the ongoing macro bear market. The post BlackRock dumps over $170m of these two cryptocurrencies in a day appeared first on Finbold .
