BlackRock makes another monster $600 million crypto move

It appears that crypto exchange-traded funds ( ETFs ) are in for another week of substantial net flows, with Ethereum ( ETH ) facing extreme selling pressure. Namely, BlackRock has dumped 117,144 ETH over the past 24 hours, worth around $507 million, while buying 1,166.79 Bitcoin ( BTC ) in the meantime, worth approximately $131.5 million, according to data retrieved from Arkham ￰0￱ of the time of writing, the world’s largest crypto fund boasts over $100.76 billion in assets under management, with Bitcoin accounting for 84% of ￰1￱ crypto holdings.) and ￰2￱ Ethereum can rebound will thus hinge on regulatory clarity in the coming months, as well as the success of scaling solutions that rely on ￰3￱ Bitcoin and Ethereum prices have been largely unaffected by the moves, as the former was up a modest 0.23% on the daily chart at the time of writing, while the latter was up 0.11%.

Featured image via Shutterstock