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BlackRock Sells $271M in Bitcoin and Ethereum Amid Weakening Institutional Demand

Guavy AI Editorial Team
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BlackRock has transferred over $271 million worth of Bitcoin and Ethereum to Coinbase Prime, sparking concerns about potential selling activity in the crypto market.

The transfer, which includes approximately 3,310 BTC valued at $215.93 million and 28,370 ETH worth around $55.68 million, comes as institutional demand for cryptocurrencies has weakened.

US spot Bitcoin ETFs have now recorded three consecutive days of net outflows, signaling a decrease in institutional buying activity.

The transfer to Coinbase Prime often precedes portfolio rebalancing, redemptions or institutional trading activity, which could weigh on the broader crypto market.

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