BlackRock Prepares to Liquidate $270M in Bitcoin and Ethereum Amid ETF Outflows
- BlackRock deposited 2,563 BTC (approx. $173 million) and 49,852 ETH (approx. $97 million) to Coinbase.
- The firm experienced $164 million in daily net outflows from its Bitcoin ETFs, contributing to a total of $165.76 million for all BTC ETFs.
- For Ethereum, BlackRock’s ETF saw $96.80 million in outflows, part of the overall $130.19 million from ETH ETFs.
- This marks the fourth consecutive month of outflows for BTC ETFs, totaling over $1 billion this month alone.
- Today also sees the expiration of $2.4 billion in crypto options on Deribit, with significant amounts tied to Bitcoin and Ethereum.
The recent actions by BlackRock reflect ongoing institutional caution surrounding cryptocurrency investments, particularly due to concerns about quantum computing risks as noted by Kevin O’Leary.
With BlackRock’s Bitcoin funds facing nearly $164 million in outflows yesterday, this trend underscores the challenges facing crypto ETFs amid market volatility.(Source)
