• BlackRock’s ETFs currently hold approximately 795K BTC through IBIT and 3.6M ETH through ETHA. While both funds experienced declines in holdings through mid-2026, they have recently recovered, showing renewed demand through these institutional vehicles.

1) IBIT: From its ATH of approximately 800K BTC in October 2025 to its July low, holdings declined by only 9%, while Bitcoin’s market price fell by more than 50% over the same period. Since that low, it has recovered by almost the same percentage it previously lost and is now very close to its 2025 ATH. IBIT currently holds approximately 4% of Bitcoin’s circulating supply.

2) ETHA: From its ATH of approximately 4M ETH in October 2025 to its June low, holdings declined by 30%, while Ethereum’s market price fell by more than 60% during that time. Since then, it has recovered by approximately 20%. ETHA currently holds around 3% of Ethereum’s circulating supply.

• Taken together, the data show that these institutional vehicles continue to absorb a substantial amount of Bitcoin and Ethereum supply, reflecting a solid base of holders that has remained resilient through major market drawdowns.

Written by Facundo Fama