BlackRock dumps over $170m of these two cryptocurrencies in a day
The post BlackRock dumps over $170m of these two cryptocurrencies in a day appeared on BitcoinEthereumNews.com. BlackRock Inc. (NYSE: BLK) accelerated its Bitcoin (BTC) and Ethereum (ETH) sell-off on May 13 amid rising risk of crypto capitulation. BlackRock deposited 861 BTC, worth approximately $69.59 million, to Coinbase Prime on Wednesday, according to on-chain data from Arkham Intelligence. Additionally, the management firm sent 44,691 ETH, valued at around $103.15 million, to Coinbase Prime. On-chain analysis for BlackRock’s BTC and ETH. Source: Arkham Intelligence As such, BlackRock dumped $172.68 million in crypto assets, thereby signaling a rising institutional shift. Furthermore, BlackRock’s iShares Bitcoin Trust (IBIT) has now recorded 5 consecutive days of cash outflows totaling $235.21 million, bringing its total assets to $66.27 billion at the time of publication. IBIT daily inflows. Source: SoSoValue Similarly, BlackRock’s iShares Ethereum Trust (ETHA) has recorded low de