BlackRock-managed crypto holdings fall by $29 billion in H1 2026
BlackRock’s cryptocurrency holdings, i.e., those managed for clients through its exchange-traded funds (ETFs), experienced a sharp decline in the first half of 2026, reflecting a broader correction across digital asset markets.
As the data Finbold gathered from Arkham and presented in its H1 2026 Cryptocurrency Market Report has shown, BlackRock’s combined Bitcoin (BTC) and Ethereum (ETH) holdings fell from $78.36 billion on January 1 to $48.98 billion by June 30, a decline of $29.38 billion, or 37.5%, over the six-month period.
Given that the vast majority of the hedge fund’s crypto portfolio is dedicated to Bitcoin, the decline was largely driven by the flagship digital asset. Specifically, BlackRock’s Bitcoin holdings dropped from $68.05 billion to $44.62 billion in the same period, representing a loss of $23.43 billion, or 34.43%.
However, in terms of raw percentages, Ethereum posted a much sharper decline. That is, the firm’s ETH position fell from $10.31 billion to $4.36 billion between January 1 and June 30, a decrease of $5.95 billion, or 57.71%.
The biggest BlackRock crypto losses came in the first quarter
The world’s largest asset manager saw the biggest losses during the first quarter of 2026. Namely, between January 1 and March 31, the combined value of BlackRock’s Bitcoin and Ethereum holdings declined from $78.36 billion to $57.89 billion – a drop of $20.47 billion, or 26.12%, as per Finbold’s Q1 figures.
However, the decline at the time was driven primarily by falling cryptocurrency prices, not widespread capital exiting the portfolio. Indeed, Bitcoin fell from $88,341 at the beginning of the quarter to $65,982 by March 31, representing a 25.31% decline.
Despite the price correction, BlackRock continued to accumulate Bitcoin. Specifically, its holdings increased from approximately 770,290 BTC to 785,240 BTC, an addition of 14,950 BTC, or 1.94%, over the three-month period.
In the second quarter, the fund lost only $2.96 billion in BTC, as the asset’s price fell from $68,232 on April 1 to $60,136 on June 30.
Ethereum was not spared either
On the other hand, Ethereum suffered both price weakness and declining holdings in the first quarter.
The cryptocurrency fell from $2,966 to $1,983 during the first three months, a decline of 33.12%. At the same time, BlackRock reduced its Ethereum holdings from roughly 3.47 million ETH to 3.06 million ETH, a decrease of 410,750 ETH, or 11.82%.
As a result, the value of its Ethereum position fell from $10.31 billion to $6.08 billion, representing a $4.23 billion decline between January 1 and March 31. In the following quarter, the holdings lost another $1.72 billion in value, as the asset’s price went from $2,104 to $1,610.
2026 is off to a much worse start than 2025
Looking back at the same period previous year, it is evident that 2026 has not been kind to BlackRock crypto ETFs. For context, during the first half of 2025, the fund significantly expanded its exposure to crypto by adding nearly $24 billion to its portfolio.
According to our last year report, the asset manager’s BTC and ETH portfolio grew from $54.77 billion on January 1, 2025, to $78.67 billion by June 30, 2025, an increase of $23.91 billion, or 43.66%.
Bitcoin accounted for nearly all of the growth, its portfolio value rising from $51.16 billion to $74.47 billion, a gain of $23.3 billion, or 45.56%. Ethereum holdings also increased, climbing from $3.61 billion to $4.21 billion, up $599.78 million, or 16.61%.
This year’s difficulties were also reflected in the decline of the physical crypto infrastructure, specifically the number of active Bitcoin ATMs, as well as the loss of 26,000 Bitcoin millionaire addresses.
Featured image via Shutterstock
