BlackRock Shifts $62M in BTC and ETH Amid Weakening Institutional Demand
BlackRock's recent wallet activity indicates a significant repositioning in its Bitcoin and Ethereum holdings, with $62 million moving through Coinbase Prime.
The transfers involved 656.71 BTC worth approximately $49.79 million and 5,150 ETH worth around $12.28 million.
Most of the Bitcoin moved in two transactions of 300 BTC each, valued at $22.87 million and $22.64 million, while another 56.71 BTC added $4.28 million to the total.
These movements represent a minor percentage of BlackRock's overall stated holdings, with its tracked portfolio holding 787.349 K BTC worth $60.15 billion and 3.556 million ETH valued at $8.68 billion.