BlackRock Continues $217 Million Bitcoin and Ethereum Sell-Off

Key Facts

1BlackRock continues to offload its Bitcoin and Ethereum holdings amid persistent outflows from its ETFs.

2The sale amounts to $217 million.

Amid persistent outflows from crypto ETFs, BlackRock has continued to offload its Bitcoin and Ethereum holdings. The latest sales total $217 million, according to reports, reflecting sustained selling pressure on the world’s largest asset manager to reduce its digital asset exposure.

The moves come as risk appetite wanes and outflows from crypto funds remain elevated. BlackRock’s stock closed at $1,015.33 on June 23, per market data, signaling weakness in the crypto-linked financial sector. Prior reports indicate the firm has been selling for several weeks.

Investors will watch upcoming weekly ETF flow data to gauge the depth of selling pressure. Fed speeches, including Waller’s on June 22, may also influence risk sentiment and impact crypto prices. The direction of outflows will likely determine near-term moves for Bitcoin and Ethereum.