Summary
- IBIT, BlackRock's spot Bitcoin (BTC) ETF, reportedly recently engaged in a large-scale sell-off of Bitcoin (BTC).
- It was revealed that during the same period, there was evidence of accumulation of Ethereum (ETH).
- It was explained that the net BTC outflow and the ETH accumulation volume matched exactly.
On the 3rd (local time), the crypto-specialized media platform CryptoBasic, citing data from Arkham, reported that BlackRock's spot Bitcoin (BTC) ETF, IBIT, has recently sold a large amount of Bitcoin and accumulated Ethereum (ETH).
The outlet stated, "BlackRock IBIT recently transferred 5,362 BTC (approximately $561 million) to Coinbase Prime and sold them in portions," adding, "During the same period, there is evidence that 27,241 ETH (approximately $69.25 million) were accumulated via Coinbase. This matches exactly the net BTC outflow from BlackRock IBIT over the past two days."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
