BlackRock Leads Widespread Institutional Selling in US Crypto Market

BlackRock's recent selling of Bitcoin and Ethereum has been a notable trend in the cryptocurrency market. According to data, BlackRock sold $42 million in Bitcoin and nearly $142 million in Ethereum on March 26. This move was part of larger outflows from US spot crypto ETFs, which reached approximately $263 million for the day.

The selling pressure was not limited to BlackRock alone, as other major providers such as Fidelity, Grayscale, Bitwise, and ARK 21Shares also contributed to the outflows. These institutions collectively sold a significant amount of cryptocurrency, painting a picture of widespread institutional de-risking in the market.

The data shared by crypto analyst Crypto Patel highlighted the extent of BlackRock's selling, with its Bitcoin ETF shedding 612 BTC worth around $41.92 million and its Ethereum ETF moving even harder, disposing of 21,240 ETH valued at roughly $43.43 million.