BlackRock's Bitcoin ETF Market Share Grows to 50%, Even as Issuers Experience Broader Sell-Off

The market share of BlackRock's Bitcoin exchange-traded fund (ETF) has grown to over 50%, even as Bitcoin ETF issuers experience a broader sell-off.

BlackRock now holds over $56.8 billion in Bitcoin as the world’s largest asset manager, boasting a market share of over 50% among Bitcoin exchange-traded funds (ETFs) in the United States.

A year and a half has passed since the debut of US spot Bitcoin ETFs on January 11, 2024. While Bitcoin ETFs experienced a three-day sell-off with over $364 million in net outflows on Feb. 20, ETF outflows from BlackRock’s iShares Bitcoin Trust ETF (IBIT) amounted to $112 million, according to Farside Investors.

Bitcoin ETFs contributed significantly to the BTC price rally in 2024, accounting for roughly 75% of new investment as Bitcoin reclaimed the $50,000 level on Feb. 15.

Bitcoin price stalls above $99K despite ETF outflowsBitcoin staged a recovery above $99,300 on Feb. 21 but remains down nearly 3% on the monthly chart.

Despite the outflows, BTC fiyatı remained resilient, suggesting that ETFs are not the primary driver of market movements, according to Marcin Kazmierczak, co-founder and chief operating officer of RedStone. Kazmierczak told Cointelegraph:

“We saw a three-day sell-off in Bitcoin ETFs with outflows reaching $363 million, but the price seems to be holding up well. This shows that while ETFs are playing a role in the market, they are not the only factor influencing BTC's price movements.”Bitcoin price range-bound for two months, some industry leaders express concernBitcoin’s price action may be manufactured, based on the trajectory of the past months, according to Samson Mow, CEO of Jan3 and founder of Pixelmatic.

“It seems like it’s some sort of price suppression,” said Mow during a panel discussion at Consensus Hong Kong 2025, adding:

“The very tight range in which you’re trading just doesn’t look natural at all,” Mow added.