BlackRock’s Bitcoin exchange-traded fund (ETF) now commands a significant 50.4% share of the total U.S. Bitcoin ETF market. The asset management giant currently holds over $56.8 billion worth of Bitcoin, contributing to a combined total of $112 billion managed by all U.S. Bitcoin ETF issuers, according to Dune data.
Bitcoin ETFs Face Sell-Off
Despite BlackRock’s dominance, the overall Bitcoin ETF market has experienced a three-day selling streak. On February 20, Bitcoin ETFs saw cumulative net outflows of $364 million, with BlackRock’s iShares Bitcoin Trust ETF (IBIT) accounting for $112 million, as per Farside Investors data.
Bitcoin’s Price Remains Resilient
Despite ETF outflows, Bitcoin’s price has remained relatively stable, climbing back above $99,300 on February 21.
Marcin Kazmierczak, co-founder of RedStone, believes that ETFs are not the primary force driving Bitcoin’s price movements.
“This indicates that other forces — such as broader market liquidity, institutional accumulation, or macroeconomic trends — are also at play,” he told Cointelegraph.
Price Action Raises Concerns
While Bitcoin has shown resilience, some experts worry about prolonged range-bound trading. Samson Mow, CEO of Jan3, suggested the price movement may be manipulated.
“It seems like it’s some sort of price suppression,” Mow stated at Consensus Hong Kong 2025, adding that Bitcoin’s price has been peaking and then moving sideways in an unnatural manner.
