In accordance with FinBold, BlackRock deposited 2,822 Bitcoin (BTC) and 36,283 Ethereum (ETH) worth $345.31 million to Coinbase Prime on November 24. The fund manager holds $77.4 billion in cryptocurrencies, with 87% in BTC and 13% in ETH. The move comes amid heavy outflows from U.S.-listed spot Bitcoin ETFs, which have seen $3.5 billion in withdrawals this month, with BlackRock accounting for $2.5 billion of that. Both BTC and ETH are under pressure, trading at $86,100 and $2,820 respectively, with Ethereum below its 100-day and 200-day moving averages and Bitcoin breaking key support levels. Bitcoin open interest has hit a six-month low, signaling potential instability.
BlackRock Deposits $345M in BTC and ETH Amid ETF Outflows and Market Correction
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