BlackRock Shifts $140M of ETH Amid Market Selloff and Ethereum Price Drop

BlackRock's Ethereum holdings have been on the move as the digital asset's price continues to slide. The company transferred roughly 47,500 Ethereum (ETH) worth $140 million to Coinbase Prime on Monday.

Ethereum was trading at $2,954 at press time, down more than 6% in 24 hours and dipping below $3,000 amid a broader market selloff. The transfer coincides with heavy outflows from BlackRock's Ethereum ETF, which saw ETHA record $139 million in net outflows yesterday.

Data from Farside Investors shows U.S.-listed Ethereum ETFs saw $225 million pulled overall, while as of December 12, ETHA held approximately 3.7 million Ethereum worth more than $11 billion. BlackRock now trails BitMine Immersion, which expanded holdings to nearly 4 million ETH.