BlackRock has reduced its exposure to the cryptocurrency market, offloading approximately $320 million from its Bitcoin and Ethereum ETFs over the past week. The majority of the outflows came from BlackRock's Bitcoin ETF, which saw a $185.1 million reduction, including a significant $201.5 million withdrawal on March 27. Ethereum ETFs also experienced net outflows of $134.9 million, with the largest single-day withdrawal of $70.8 million occurring on March 27.
The synchronized withdrawals from both Bitcoin and Ethereum ETFs suggest a broader cooling in institutional demand, despite intermittent inflows. This trend reflects a cautious market sentiment amid ongoing financial volatility. While U.S. spot Bitcoin ETFs rebounded in March with $1.32 billion in net inflows, Ethereum ETFs continued to face pressure, recording $46 million in outflows for the month.
BlackRock Sells $320M in Bitcoin and Ethereum ETFs Amid Market Volatility
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