BlackRock Signals Bitcoin and Ethereum Sell-Off? Has a Major Institutional Capital Shift Begun?
BlackRock Signals Bitcoin and Ethereum Sell-Off? Has a Major Institutional Capital Shift Begun?
Is this a signal that the direction of institutional capital is shifting? As Bitcoin (BTC) and Ethereum (ETH) continue to show weakness, analysis suggests that BlackRock, the world’s largest asset manager, is reducing its exposure to both assets.
According to crypto media outlet Bitcoinist on February 11 (local time), Bitcoin has remained sluggish below $70,000, while Ethereum continues to trade under $2,000. Amid this backdrop, BlackRock has drawn market attention by offloading significant holdings of both assets in recent days.
On-chain data shows that BlackRock recently transferred approximately $234.3 million worth of Bitcoin to Coinbase Prime. At the same time, it moved $60.83 million worth of Ethereum to the same platform. Combined, the two transactions total about $295.13 million. In the market, large institutions transferring assets to Coinbase Prime are often interpreted as preparing to sell.
Market expert Milk Road analyzed that such fund movements suggest the possibility of institutional-level position adjustments. However, on February 9, when BlackRock transferred $247.71 million worth of Bitcoin and Ethereum to Coinbase Prime, spot Bitcoin ETFs recorded net inflows of $144.9 million and spot Ethereum ETFs saw more than $57 million in net inflows, showing a contrasting trend. This means the possibility cannot be ruled out that institutional selling was offset by buying demand on the same day.
Meanwhile, in terms of trading volume, XRP (Ripple) is increasing its presence. Analysis indicates that XRP trading volume has surpassed that of Bitcoin and Ethereum in Asia, particularly in the South Korean market. Some analysts predict that XRP could take market leadership within the next few years. Veteran investor Patrick L. Riley stated that if Bitcoin fails to surpass $150,000 this year and does not reclaim its 12-year long-term trendline, it could even retest $1,000. He also claimed that XRP could become the leader of the cryptocurrency market within six years.
Ultimately, BlackRock’s selling activity and the concentration of trading toward XRP suggest that both institutional and retail investors may be gradually shifting their focus away from traditional market leaders. However, as ETF fund inflows are occurring simultaneously, some analysts caution that it is premature to conclude whether this represents a short-term correction or a structural shift.
Disclaimer: This article is for investment reference only and we are not responsible for any investment losses resulting from it. The content should be interpreted solely for informational purposes.
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