- BlackRock is selling BTC, not buying.
- Investors withdrew over $583 million from Bitcoin ETFs, representing the second-largest outflow recorded to date.
- Speculation has arisen that BlackRock may be reducing its Bitcoin holdings in response to the recent market downturn.
BlackRock’s Bitcoin ETF witnessed a significant outflow of funds, with investors rapidly pulling assets out. As expected, this caused all kinds of concerns about a potential crypto market crash, especially given that BlackRock is a prominent player in the Bitcoin ETF market.
Just previously, Arkham Intelligence disclosed on X that BlackRock is actively reducing its Bitcoin exposure through its exchange-traded fund iShares Bitcoin Trust Bitcoin Holdings (IBIT). This observation, supported by a visual representation of transaction flows, suggests a notable shift in BlackRock’s investment strategy and a move away from Bitcoin.
Related: BlackRock Seeks ETF Rule Change as Grayscale Makes New Filings
Following this news, speculation has been mounting that the asset manager may be divesting its BTC holdings in response to the recent market downturn.
Additionally, Bitcoin ETFs collectively exp…
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