According to CoinRepublic, BlackRock moved 44,140 ETH valued at $135.36 million to Coinbase, raising concerns about Ethereum’s price stability. This follows continued outflows from the BlackRock Ethereum ETF (ETHA), with $88.7 million in net outflows reported. The move comes despite Vanguard listing Ethereum ETFs, but analysts warn that if the $3,000 support level is breached, ETH could drop to $2,800. On-chain data shows BlackRock has been trimming its ETH holdings, contributing to a 11% single-day price drop earlier this week. Meanwhile, Ethereum’s Fusaka upgrade aims to improve scalability, but market sentiment remains bearish.
BlackRock Sells 44,140 ETH Amid Ethereum ETF Outflows
The Coin RepublicShare
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