🚨 BlackRock Moves BTC & ETH to Coinbase Amid Record ETF Outflows — What’s Next for Crypto Markets?

📊 Arkham Intelligence data shows BlackRock has transferred 2,544 BTC ($292M) and 101,975 ETH ($373M) to Coinbase Prime, fueling speculation that the asset giant may be preparing to offload significant holdings.

🗓 This move follows a wave of ETF redemptions on August 4:

🔻 $292M net outflow from BlackRock’s Bitcoin ETF (IBIT)

🔻 $375M net outflow from its Ethereum ETF (ETHA)

🔻 Overall, crypto ETFs saw record outflows — $333M in BTC and $465M in ETH

📢 As crypto ETFs face their biggest outflows since inception, institutional sentiment seems to be shifting. Fidelity also moved large ETH volumes to Coinbase amid similar redemptions.

🏛 However, with SEC-approved in-kind redemption mechanisms, these asset managers may not be forced to sell assets — opting instead to swap shares for underlying crypto directly.

🔎 This evolving ETF structure could be a key buffer against market panic, but the short-term moves still raise questions about broader institutional confidence.

#CryptoNews #BlackRock #Bitcoin #Ethereum #ETF

https://coingape.com/blackrock-moves-292m-btc-372m-eth-amid-crypto-etf-outflows/?utm_source=bnb&utm_medium=coingape