🚨 BlackRock Dumps $561M in Bitcoin, Loads Up on Ethereum 🧠📉➡📈
In a bold shift that’s turning heads in the crypto world, BlackRock, the world’s largest asset manager, has sold off 5,362 BTC ($561 million) and reallocated heavily into Ethereum, withdrawing 27,241 ETH ($69.25 million) from Coinbase Prime. 🔁
🕵️♂️ On-chain data shows this strategic move began June 2, with batches of 300 BTC hitting Coinbase. While BTC was being liquidated, ETH was simultaneously scooped up — all through BlackRock’s institutional channels.
📉 Why the BTC sell-off?
Correlates perfectly with $561M in outflows from BlackRock's iShares Bitcoin Trust ETF.
Follows a broader 2-day U.S. Bitcoin ETF market outflow of $1.23 billion.
Comes just after BTC hit an ATH of ~$112K before dipping to ~$103K.
📈 Meanwhile… Ethereum is shining:
ETH ETFs have seen 11 straight days of positive inflows.
BlackRock led with $48.4M in a single day, alongside Fidelity at $29.8M.
BTC ETFs may be cooling, but ETH demand is heating up fast. 🔥
💡 What does this signal?
A major institutional pivot. Ethereum, often seen as BTC’s “younger sibling,” is stepping into the spotlight — possibly ahead of broader ecosystem upgrades or changing narratives around smart contract utility.
👇 What do you think:
Is this a short-term tactical move, or is Ethereum the new institutional darling?
#BlackRock #bitcoin #Ethereum #ETHETFS #CryptoNews #DeFi #InstitutionalInvestors #BinanceSquare #CryptoMarkets #Web3 #Altseason
