BlackRock Transfers $359M in Bitcoin and Ethereum Amid Market Selloff

Source: Cryptonews Original Title: BlackRock moves $359m in Bitcoin, Ethereum to Coinbase amid selloff Original Link:

Overview

Blockchain tracking data shows BlackRock has transferred significant cryptocurrency holdings during a market downturn. The asset management firm moved approximately $276 million in Bitcoin (BTC) and $83 million in Ethereum (ETH)—totaling 3,064 BTC and 26,723 ETH—to a major regulated exchange platform.

Transaction Details

The transfers coincided with notable outflows from U.S. spot Bitcoin and Ethereum ETFs, prompting speculation among market participants about potential liquidation strategies. However, BlackRock has not publicly disclosed the rationale behind these movements or its broader cryptocurrency investment intentions.

Market Context

The transfers occurred ahead of critical U.S. economic data releases:

• Initial jobless claims data (forecast to show slight increase)
• Nonfarm payrolls and unemployment rate reports
• Federal Reserve policy sensitivity indicators

These economic indicators are closely watched by investors across both traditional and cryptocurrency markets, as they could influence Fed decisions regarding interest rates and overall market volatility.

Market Implications

As the world’s largest asset manager, BlackRock’s cryptocurrency transactions are closely monitored by market participants due to the firm’s potential influence on pricing and market sentiment. Recent price declines in Bitcoin and Ethereum, combined with ETF outflows, have added to near-term uncertainty in cryptocurrency markets.

The simultaneous movements of capital and exchange outflows suggest heightened macro sensitivity in both BTC and ETH markets, with investors closely watching for signals about future market direction.