BlackRock has once again made headlines in the cryptocurrency market, offloading a significant portion of its Bitcoin and Ethereum holdings. On Monday, November 24, on-chain analytics firm Lookonchain reported that the asset management giant deposited 2,822 BTC and 36,283 ETH into Coinbase Prime. The total value of the transfer exceeded $344 million, with $243.59 million in Bitcoin and $101.72 million in Ethereum moved within minutes.
The sale comes despite signs of a potential market rebound, as cryptocurrency prices show slowing corrections. Analysts note that BlackRock’s persistent offloading—following a $2 billion Bitcoin and Ethereum sell-off just last week—could impact the market’s recovery momentum. While the firm’s strategy to reduce its crypto holdings appears ongoing, uncertainty remains over whether the selling spree will continue or pause in the near term.
