Based on Coinrise, BlackRock transferred nearly $1 billion in Bitcoin and Ethereum to Coinbase across two consecutive days in November, including 6,735 BTC and 64,706 ETH. The firm also moved an additional 3,064 BTC and 64,707 ETH into Coinbase, totaling over $1 billion. These transfers occurred alongside significant outflows from BlackRock’s Bitcoin and Ethereum ETFs, with global crypto investment products recording $952 million in outflows on December 22. TheCoinRise reported that BlackRock’s iShares ETFs saw the largest weekly outflows at $798 million, followed by Ethereum at $555 million and Bitcoin at $460 million. The move comes amid delays to the U.S. Clarity Act and increased selling pressure from institutional investors.
BlackRock Transfers $1 Billion in BTC and ETH to Coinbase Amid ETF Outflows
CoinriseShare
Summary
BlackRock moved nearly $1 billion in BTC and ETH to Coinbase over two days in November, including 6,735 BTC and 64,706 ETH. The firm added 3,064 BTC and 64,707 ETH, as value investing in crypto faces pressure from ETF outflows. Global crypto funds saw $952 million in outflows on Dec. 22, with BlackRock’s iShares ETFs leading at $798 million. Ethereum and Bitcoin ETFs lost $555 million and $460 million, respectively, as support and resistance levels shift amid stalled U.S. regulatory progress.
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