The activity, spotted around three hours ago, is tied to BlackRock’s iShares Bitcoin Trust (IBIT) and Ethereum Trust (ETHA) ETFs.
The move comes as Ethereum trades at $3,553 and Bitcoin hovers around $112,771. These transfers—if intended for liquidation—could introduce significant volatility to both assets.
Despite the large outbound transfers, both ETFs have shown positive performance. IBIT’s net asset value (NAV) is up to $65.22 with a 22.38% return year-to-date. ETHA’s NAV stands at $27.82, climbing nearly 4% in a single day and showing a 9.80% gain for the year. This contrasts with the potential bearish sentiment a large-scale crypto sale might trigger.
It remains unclear whether BlackRock intends to liquidate the assets or simply reposition them. Large ETF providers often move funds between custodians and exchanges for strategic or compliance reasons. Still, the scale of the transfer, combined with Coinbase’s role as a selling venue, raises the likelihood of an imminent sell-off or ETF rebalancing.
If a liquidation does occur, the pressure on Ethereum and Bitcoin could be considerable, especially given the relatively thin summer trading volume. However, any dip might also present buying opportunities for long-term investors anticipating continued ETF-driven growth.
While BlackRock has not made an official statement, the crypto community is bracing for potential aftershocks. Whether this transfer leads to a direct sale or not, it’s a reminder of how ETF flows can dramatically influence crypto market dynamics in 2025.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
The post Is BlackRock About to Sell Bitcoin and Ethereum Worth $664 Million? appeared first on Coindoo.
