BlackRock Trimmed $255M in
$BTC and
$ETH ETH.
Their Conviction Still Looks Intact.
On May 28: • $177.94M was trimmed from
$BTC • $77.28M was trimmed from
$ETH The headlines sounded bearish.
The allocation data tells a different story.
BlackRock still holds: • 792,003
$BTC through IBIT ($57.65B)
• 3.23M ETH through ETHA + ETHB ($6.40B)
• 226,945 staked ETH worth roughly $451M
That means only: • 0.31% of total Bitcoin exposure was reduced
• 1.19% of Ethereum exposure was reduced
If this were true institutional panic, the positioning would look very different.
The most important detail is the staking exposure.
BlackRock is not holding ETH only for directional upside.
They are also positioned for yield generation.
So while liquid exposure gets trimmed around the $2,000 psychological level, long-term staking positions remain active.
Meanwhile: • ETH exchange reserves sit near multi-year lows
• More than 32% of total ETH supply is staked
• Liquid supply continues to tighten
Price volatility changes sentiment.
Positioning reveals conviction.
#ETH #Crypto #blackRock