According to reports, BlackRock has sold more than $2 billion worth of Bitcoin (BTC) and Ethereum (ETH) in the last 10 days. The world’s largest asset manager saw $1.92 billion worth of BTC and $320 worth of ETH. BlackRock’s sell off came amid a market-wide correction. Bitcoin (BTC) fell to the $61,000 price level on June 4, 2026, while Ethereum (ETH) has fallen to the $1700 level today.

Why Did BlackRock Sell Its Bitcoin And Ethereum?

BlackRock has not explicitly disclosed the reasons behind its massive sale. Given the larger market environment, it is possible that the asset manager saw the signs of a market crash, and decided to book profits. Bitcoin (BTC) has erased all gains made since February and may continue to fall further.

BlackRock investors may have chosen to move out of their crypto exposure ahead of the highly anticipated IPO season in the US. SpaceX, OpenAI, and Anthropic are heading towards their respective IPOs in the coming months. Investors are likely moving liquidity away from the crypto market for the IPOs. SpaceX is expected to go public on June 12, 2026.

Will The Market Recover?

The cryptocurrency market has historically displayed cyclical movements. Bitcoin (BTC), for example, hit a peak of around $68,000 in 2021. However, the asset fell to the $15,000 level after the collapse of FTX in 2022. BTC then went on to breach the $100,000 mark for the first time in its history in little more than two years later in December 2024. Bitcoin (BTC) hit an all-time high of $126,080 in October 2026, but has since fallen by nearly 50%. Looking at BTC’s historical performance, there is a high chance that the asset will rebound in the future.

Also Read: Worried About Your Crypto Losses? 3 Tips To Survive The Crash

There is one factor that could present significant challenges to Bitcoin (BTC). Quantum computers are getting ever more powerful and Q-day is getting closer and closer. If quantum computers break Bitcoin’s (BTC) cryptographic security measures, the asset could become redundant. Such a situation could pose a threat to BTC’s recovery.