According to data from Farside Investors, BlackRock’s IBIT ETF sold $414 million worth of Bitcoin (BTC) over the course of two days. The world’s largest asset manager sold $202.5 million worth of BTC on July 23, 2026, and $212.2 million worth in the following day. Let’s discuss why.

Why Did BlackRock Sell $414 Million Worth Of Bitcoin?

BlackRock IBIT ETF has seen substantial outflows this year. The asset manager saw a streak of purchases starting from July 14, before the latest sell off. Some anticipated the market to dip given the size of BlackRock’s sale. However, the market seems to have absorbed the selling pressure. Bitcoin (BTC) has reclaimed the $65,000 price level, with other assets following its trajectory.

BlackRock’s decision to offload some of its Bitcoin (BTC) holdings could be due to the recent spike in oil prices. The US-Iran conflict has once again led to a closure of the Strait of Hormuz and global energy supplies have taken another hit. While inflation dipped for the month of June, some analysts believe inflation may rise for July due to the rise in oil prices. Higher inflation may increase the chances of an interest rate hike. Higher rates often leads to less risky investments. Bitcoin (BTC) and other cryptocurrencies often take a hit under such circumstances.

Also Read: Goldman Sachs Says Oil May Hit $120: Stocks, Crypto To Dip?

BlackRock’s decision to sell some of its Bitcoin (BTC) could also be due to a dip in demand from their clients. The cryptocurrency market has struggled to gain steam in 2026 and investors are likely not confident in crypto assets for the time being. We may see a change in trend later this year if the market environment improves.

BlackRock’s entry into the cryptocurrency market was met with a lot of applause. Co-founder and CEO Larry Fink recently reiterated his bullishness on Bitcoin (BTC). Fink also said that we may see bullish trends in the next 12 months.