Breaking 🚨 BlackRock, Fidelity, and other ETFs have recently sold significant amounts of Bitcoin (BTC) and Ethereum (ETH), totaling $488.4 million and $184.2 million, respectively. This move indicates substantial institutional outflows from major crypto exchange-traded funds, likely reflecting reactions to market volatility and economic signals .
In the past, BlackRock and Fidelity have made notable investments in cryptocurrencies. For instance, they purchased over $500 million worth of Ethereum through their ETFs, showcasing their interest in digital assets. These transactions were primarily conducted via Coinbase Prime, highlighting the growing institutional participation in the crypto sector.
The recent sales might be related to market fluctuations, options expirations, or federal monetary policy updates. It's essential to monitor these developments, as they can impact cryptocurrency prices and market trends.