Massive Exodus from Bitcoin and Ethereum ETFs: BlackRock Drives Outflows

BlackRock’s holdings of Bitcoin and Ethereum ETFs have experienced significant outflows, signaling a cautious shift in the crypto market. Institutional investors withdrew a combined $626 million worth of Bitcoin (7,341 BTC) and $233 million worth of Ethereum (84,435 ETH) from various funds over a 24-hour period, according to reports. BlackRock, the world’s largest asset manager in crypto ETF space, led these outflows. This dramatic shift has sparked debate about market sentiment regarding Bitcoin and Ethereum, with some attributing it to rebalancing or profit-taking amidst recent volatility.