Over $610 Million in Bitcoin and Ethereum Dumped by BlackRock - U.Today

BlackRock has continued selling Bitcoin and Ethereum through its ETF channels as performance remains weak amid volatility and bearish on-chain signals. Blockchain monitoring firm Lookonchain reports that BlackRock transferred millions of dollars worth of BTC and ETH to Coinbase over the past two days. Over the last 48 hours, it moved a total of 7,160 BTC and 98,850 ETH to wallet addresses on Coinbase Prime, based on transaction-time prices valued at about $611 million. The transfers were executed across multiple Coinbase Prime wallet addresses in three large BTC batches and a separate transaction carrying more than 51,000 ETH. The article notes such selling is often expected when ETFs see net outflows. While a direct price impact is uncertain, market participants expect BlackRock’s behavior to shift if ETF momentum improves.