According to Digital Asset, BlackRock transferred $366 million worth of BTC and ETH to virtual asset exchange Coinbase, hinting at the possibility of a massive sell-off. According to LookOnChain, BlackRock transferred 1,885 BTC and 59,606 Ethereum to CoinbasePrime on August 21, for a total value of $366 million.
The market is divided on its interpretation of BlackRock's asset transfer. Some analysts believe it may be a simple portfolio rebalancing, while others believe it may reflect a weakening of institutional investor sentiment. BlackRock's large-scale virtual asset transfer has exacerbated market anxiety, especially in the context of an upcoming speech by Federal Reserve chairperson Jerome Powell.
According to CoinMarketCap data, on August 22, Bitcoin was trading at $112,975.31, down 0.61% from the previous day; Ethereum was trading at $4,280.45, down 0.22%.
BlackRock to sell $506 billion worth of Bitcoin and Ethereum
2025-08-23 07:35:30
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