BlackRock Liquidates Bitcoin and Ethereum: A Move That Sparks Debate

BlackRock has taken a significant step in the crypto market, selling large portions of its Bitcoin and Ethereum holdings. Data from LookOnChain reveals that over $366 million in Bitcoin and Ethereum were transferred from Blackrock’s ETFs to a Coinbase Prime wallet on August 20th, coinciding with the ongoing cryptocurrency sell-offs. While BlackRock has not disclosed specifics about the transaction, leading crypto funds have been observed making substantial transfers of Bitcoin (1,885 BTC) and Ethereum (59,606 ETH), raising questions about their motives.