BlackRock sells $405M worth of Bitcoin as IBIT redemptions pile up
Photo: Crypto Briefing
The world's largest asset manager offloaded $405.3 million in Bitcoin, but the selling traces back to ETF investors heading for the exits BlackRock sold $405.3 million worth of Bitcoin , according to a post circulating on X. That is a big number from the biggest name in spot Bitcoin ETFs. Before anyone declares that Wall Street has broken up with crypto, the context matters. The selling appears tied to investors pulling money out of BlackRock’s iShares Bitcoin Trust (IBIT). It does not appear to reflect BlackRock deciding Bitcoin is over. IBIT is the largest spot Bitcoin ETF in the US.
Source: Crypto Briefing
