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Crypto

Ethereum Gains Favor with BlackRock Clients as Bitcoin Sales Soar

Guavy AI Editorial Team
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BlackRock's clients have been selling Bitcoin through the IBIT ETF, with $60 million worth of Bitcoin sold in recent transactions.

This comes as Ethereum saw a surge in buying activity, with over $20 million invested by BlackRock's clients. This shift could indicate that institutional investors are favoring Ethereum due to its smart contract capabilities and new features like staking and exchange-traded products.

Bitcoin is currently trading near $64,160, while Ethereum is around $1,902. Market sentiment remains cautious, so further institutional activity will be closely watched.

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