BlackRock’s BTC and ETH Transfers to Coinbase Raise Speculation Amid ETF Outflows and Market Jitters
Main Idea
BlackRock's transfer of BTC and ETH to Coinbase amid ETF outflows has sparked speculation about potential sell-offs, despite an increase in its Ethereum holdings.
Key Points
1. BlackRock transferred 2,544 BTC and 101,975 ETH to Coinbase, coinciding with significant outflows from its crypto ETFs.
2. The IBIT ETF saw a net outflow of $292.21 million, while the ETHA ETF experienced a $374.97 million outflow.
3. Despite the outflows, BlackRock's Ethereum holdings increased to approximately $9.3 billion.
4. The transfers have raised concerns in the crypto market about potential sell-offs and their impact on prices and demand dynamics.
Description
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