The value of cryptocurrency holdings linked to BlackRock fell steeply in the first quarter of 2026, underscoring the extent to which price volatility continues to dominate even as institutional demand for digital assets remains intact.

Data compiled by Finbold using blockchain analytics from Arkham show that the combined value of Bitcoin and Ethereum held through BlackRock-linked vehicles declined from $78.36bn at the start of January to $57.89bn by the end of March. The $20.47bn drop represents a fall of just over 26 per cent in the quarter.

The decline was driven primarily by falling asset prices rather than a broad withdrawal of capital. Bitcoin, which accounts for the majority of the portfolio, fell from $88,341 to $65,982 over the…