BlackRock Sold $1.01 Billion of Bitcoin Last Week, Arkham Says
Summary
- Arkham Intelligence said BlackRock sold a total of $1.01 billion worth of Bitcoin last week.
- Net Bitcoin inflows to Binance continued for about 10 days, a pattern typically interpreted as a sign of possible selling or defensive position adjustments.
- The market says continued selling flows from large institutions could increase near-term supply pressure.
Forecast Trend Report by Period
BlackRock sold $1.01 billion worth of Bitcoin last week, according to blockchain analytics firm Arkham Intelligence. The analysis comes as concerns build around institutional fund flows, with the market focused on who may be absorbing the supply.
In a post on X on May 25, Arkham said BlackRock sold Bitcoin every day last week.
Arkham said the asset manager sold a total of $1.01 billion worth of Bitcoin over the period. "If BlackRock is selling, who is buying?" it added.
The analysis comes as Bitcoin pulls back amid geopolitical tensions and broader weakness in risk assets. Earlier, Bitcoin net inflows to major exchange Binance continued for about 10 days. Higher exchange inflows are typically interpreted as a sign of possible selling or defensive position adjustments.
Still, Bitcoin transfers linked to BlackRock could reflect a range of factors, including exchange-traded fund inflows and outflows, custodial wallet adjustments and redemptions. Wallet movements alone are not enough to conclude that the institution was directly selling into the market.
The market sees a risk of heavier near-term supply pressure if selling by large institutions continues. On the other hand, downside pressure on prices may remain limited if the supply is absorbed by long-term investors or other institutions.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
