Onchain analytics firm, Lookonchain revealed that BlackRock sold 182 BTC, valued at approximately $11.34 million, while purchasing 7,574 ETH for about $18.52 million.
Following these transactions, BlackRock holds 369,640 BTC, worth around $23.02 billion, and 414,168 ETH, valued at approximately $1.01 billion.
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This activity could be a strategic shift in BlackRock’s or its investors’ cryptocurrency portfolio. It could also show increased confidence in Ethereum’s potential.
They could also be adjusting their risk exposure across different cryptocurrencies.
Furthermore, this movement of funds by such a large institutional investor could potentially impact market sentiment. As institutional interest continues to grow, BlackRock’s actions could influence other investors.
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