BlackRock Shifts $62M in Crypto Holdings Amid Market Volatility
BlackRock has transferred $62 million worth of Bitcoin and Ethereum through Coinbase Prime. The transfer involved 656.71 BTC and 5,150 ETH.
This move comes as BlackRock's overall ETF holdings in Bitcoin and Ethereum remain substantial, showing resilience during recent market downturns.
However, the firm has recently seen significant outflows in both Bitcoin and Ethereum ETFs, indicating weakening institutional demand amid negative investor sentiment following a Senate setback on the CLARITY Act.