BlackRock Transfers $214M in Bitcoin and Ethereum Amid ETF Outflows
- BlackRock transferred 2,201 Bitcoin valued at approximately $192 million and 7,557 Ethereum worth about $22 million to Coinbase Prime.
- On December 26, Bitcoin ETFs saw a net outflow of $275.88 million, with BlackRock’s IBIT fund contributing $192.61 million.
- Ethereum ETFs recorded net outflows of $38.70 million on the same day, including $22.12 million from BlackRock’s ETHA fund.
- Over the past week, crypto exchange-traded products experienced total net outflows of $446 million.
- Since October’s market correction, total outflows from Bitcoin and Ethereum products reached approximately $3.2 billion.
The significant transfers by BlackRock reflect ongoing challenges in the cryptocurrency market, as evidenced by substantial ETF outflows following a recent market downturn.
With over $275 million in daily outflows for Bitcoin ETFs alone on December 26, the trend indicates persistent selling pressure across crypto assets.(Source)
