BlackRock signals selling these 2 cryptocurrencies worth $500 million
As the broader cryptocurrency market remains in a consolidation phase, BlackRock, the world’s largest investment management firm, has moved a significant amount of digital assets, signaling potential selling activity. According to data from Arkham , retrieved by Finbold on November 1, BlackRock transferred a total of $506 million in cryptocurrencies. On-chain data shows that roughly 3,496 Bitcoin (BTC), valued at about $384 million, and 31,754 Ethereum (ETH), worth approximately $122 million, were moved to Coinbase Prime. The transactions were traced to wallets linked to BlackRock’s iShares Bitcoin ETF (IBIT) and iShares Ethereum ETF (ETHA). BlackRock crypto transactions. Source: Arkham Notably, when institutions transfer assets to Coinbase Prime, it often indicates preparation for selling, portfolio rebalancing, or investor redemptions, since the platform provides deep liquidity and secure settlement for large-volume transactions. While the transfer does...