Could BlackRock Sell Bitcoin? Understand the $204 Million Move
- Large transfers may signal sales
- ETF management does not imply direct settlement
- Movements as a background strategy
BlackRock’s recent transfer of a significant amount of Bitcoin and Ethereum to Coinbase Prime has sparked debate and speculation in the cryptocurrency space. With Bitcoin hovering around the $85 mark, this move has raised investor curiosity and concern about the cryptocurrency’s future.
Recently, BlackRock, known for its robust asset management and as the issuer of the IBIT Bitcoin ETF, transferred $204 million worth of assets to Coinbase Prime. This amount includes 1.800 BTC, valued at approximately $160 million, and 18.168 ETH, worth approximately $44 million. Large-volume movements like this often raise concerns about a potential sell-off in the market.
The investment community, already alerted by the drop in the price of Bitcoin to US$ 85.400, is watching these transfers with a dose of nervousness. The possibility of a liquidation could further pressure the value of the cryptocurrency that could take the price close to the support of US$ 72 thousand, triggering a chain reaction in the market.
ALERT: BLACKROCK SELLING $ BTC
BlackRock has transferred $150M BTC to Coinbase Prime. These are outflows from the IBIT Bitcoin ETF. pic.twitter.com/GoruDylqdk
— Arkham (@arkham) February 25, 2025
However, cryptocurrency experts point out that BlackRock’s moves may not necessarily indicate an imminent liquidation. Due to its role as a custodian, the company manages ETF assets for its investors without conducting direct transactions. The transfers to Coinbase Prime are seen by some analysts as part of a standard fund management procedure, which can include everything from portfolio rebalancing to handling investor redemptions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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