BlackRock buys up this crypto amid its Bitcoin sell-off

As BlackRock Inc. (NYSE: BLK ) cryptocurrency portfolio increased by over $3.7 billion since early July to date, on-chain data suggests its investors could potentially be rotating capital from Bitcoin ( BTC ) to its altcoin fund. BlackRock’s iShares Bitcoin Trust ETF ( IBIT ) has recorded a holding-decline of 3,710 BTC, down from 743,190 Bitcoin on July 1, 2026, to about 749,480 coins on August 6, according to data from Arkham Intelligence . On the other hand, BlackRock’s iShares Ethereum Trust ETF (ETHA) has registered an increase of 196,340 Ethereum ( ETH ) during the same period. BlackRock crypto portfolio. Source: Arkham Intelligence As such, BlackRock’s ETHA has seen its Ethereum holdings increase from 2.77 million on July 1 to approximately 2.97 million, at press time. With Ethereum price trading at $1,868 on Thursday, the firm’s ETH trove was valued at $5.54 billion, up by $1.08 billion over the past 37 days. Worth noting that the value of the company’s Bitcoin holdings has surged by $2.67 billion during this period, to hover at $47.35 billion at the time of publication. The value increase in BlackRock’s Bitcoin portfolio since early July to date, despite its 0.5% decline in holdings, was due to the BTC price uptick. Furthemore, BTC price rose by $3,909, or 6.5%, from $60,128 on July 1 to over $64,037 at the time of reporting. BlackRock fuel capital rotation from Bitcoin to Ethereum in 37 days During this period, when BlackRock’s investors accelerated Ethereum purchases and Bitcoin sell-off, the ETH/BTC pair broke out from its multi-month capitulation, as Aksel Kibar pointed out . The ETH/BTC pair has surged by over 5% since early July, trading at 0.02958 at press time. ETH/BTC 1D chart. Source: TradingView As a result, if BlackRock investors continues with the same strategy, of accumulating Ethereum while selling Bitcoin, the ETH/BTC pair could rally towards 0.0312, as the analyst noted.