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Why do institutions sell when Bitcoin prices are very low?
The main reason for BlackRock's large-scale selling of Bitcoin is the massive redemption by investors in its IBIT spot Bitcoin ETF, rather than BlackRock itself actively turning bearish on Bitcoin and selling.
How the ETF works: IBIT is a spot Bitcoin ETF that holds actual Bitcoin. When investors buy ETF shares, BlackRock (through authorized participants) buys Bitcoin; when investors sell/redeem shares, BlackRock needs to sell the corresponding Bitcoin to meet redemption demand. This is not BlackRock's investment decision but a passive response to client behavior.
Recent situation: From late May to June 2026, IBIT experienced net outflows for multiple days/weeks, with single-day outflows reaching hundreds of millions of dollars (e.g., $500M+ level), and cumulative outflows totaling tens of billions of dollars. As a result, BlackRock transferred Bitcoin to platforms like Coinbase Prime for sale and settlement. This led the market to see news of BlackRock selling, but in essence it was investors withdrawing capital during the Bitcoin price correction.
Redemption background: Macro factors (such as high yields, declining risk appetite), profit-taking, or overall market corrections caused some institutions/investors to withdraw funds from Bitcoin ETFs. ETF outflows tend to amplify during price declines, forming a feedback loop, but this is not BlackRock actively "dumping at low prices."
BlackRock remains a long-term supporter of Bitcoin, and its IBIT still holds a large amount of Bitcoin (approximately 750k–760k coins, with asset size in the tens of billions of dollars). This is not a strategic shift.
In the long run, BlackRock still provides institutional access to Bitcoin through products like IBIT, and cumulative inflows remain positive (despite recent pressure).
In summary, this is more a reflection of market sentiment and investor behavior rather than a negative judgment by BlackRock on Bitcoin's prospects. The transparent mechanism of Bitcoin ETFs makes such flows publicly visible and also amplifies short-term volatility. If you are interested in specific data, it is recommended to check the IBIT holdings updates on SoSoValue, Farside Investors, or BlackRock's official website.