BlackRock Dumps BTC, Snaps Up ETH Amid Market Turbulence

BlackRock's recent on-chain activities have sparked interest in the crypto market. The asset management giant sold approximately $230 million worth of Bitcoin (BTC) and bought Ethereum (ETH) worth around $17.71 million.

The sale involved 3,671 BTC, which is a significant amount considering the current market volatility. Meanwhile, the purchase of ETH marked a notable shift in BlackRock's digital asset allocation strategy.

Notably, this move comes during one of the most turbulent periods for both Bitcoin and Ethereum, with heavy ETF outflows affecting BlackRock's flagship products. Despite this, the company continues to actively manage its digital assets, adjusting allocations based on market conditions.

The Ethereum purchase pushed total ETH inflows above 10,000 ETH for the linked wallet during the operation, indicating a clear institutional accumulation pattern in Ethereum.