**BlackRock’s Ongoing Bitcoin and Ethereum Sell-Off**
Today, BlackRock has continued its sell-off of Bitcoin and Ethereum, transferring a significant portion of its assets to the crypto exchange Coinbase Prime. The atmosphere in the cryptocurrency market has become increasingly tense, with the Crypto Fear and Greed index plummeting to 10, a level not seen since 2022. This wave of skepticism has been fueled by the fallout from the Solana meme coin and recent tariff promises made by Donald Trump.
Interestingly, this sell-off has also affected the usually steadfast asset manager BlackRock, which has begun liquidating its Bitcoin and Ethereum holdings. Historically, BlackRock, a leading issuer of Bitcoin exchange-traded funds (ETFs), has maintained its positions even during market downturns—until now. According to fresh data from Arkham, the issuer of the fastest-growing fund in ETF history has continued its selling spree today.
BlackRock has moved 5,100 BTC (valued at $441 million) and 30,280 ETH (worth $71.85 million) to the Coinbase Prime deposit address. The asset manager executed the Bitcoin transfers in batches of 300 BTC across 17 transactions, starting around 11:15 (UTC) on Thursday. Prior to this, the address associated with BlackRock had transferred 30,280 ETH in four transactions to the same recipient.
**BlackRock’s Current Holdings**
Despite these sales, BlackRock still retains a substantial amount of both cryptocurrencies. As of this writing, the leading asset manager by assets under management (AUM) holds 583,019 BTC (approximately $50.26 billion) and 1.328 million ETH (around $3.11 billion).
**Other Asset Managers Joining the Trend**
The recent sales reflect broader outflows observed in U.S. Bitcoin and Ethereum spot ETFs. Other asset managers have also sold significant amounts of these assets in the past 24 hours. For context, Bitcoin products recorded sales totaling $754 million yesterday, with BlackRock at the forefront of these transactions. The BlackRock iShares Bitcoin Trust (IBIT) alone sold $418 million in BTC as investors withdrew funds en masse.
Notable sales were also reported from the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Ark 21 Shares Bitcoin ETF (ARKB), which experienced outflows of $145.7 million and $60.46 million, respectively. Additionally, BlackRock’s Ethereum fund (iShares Ethereum Trust) led the outflows in U.S. Ethereum spot ETFs yesterday, offloading nearly $70 million worth of the asset. Fidelity, Grayscale, and Bitwise collectively saw outflows amounting to $24.5 million.
At the time of this report, Bitcoin is trading at $85,712, while Ethereum is priced at $2,329.
