BlackRock Sells 35,009 ETH Valued at $152.7 Million
BlackRock has shifted its crypto strategy by selling over $151 million in Ethereum while acquiring nearly $290 million in Bitcoin, highlighting its preference for Bitcoin exposure.
BTC
ETH
Summary
According to Arkham data, BlackRock sold $151.4 million worth of Ethereum and purchased $289.8 million worth of Bitcoin, with the latter nearly double the value of the ETH sale. This shift underscores the firm’s current preference for Bitcoin over Ethereum in its portfolio adjustments.
Terms & Concepts
- ETH (Ethereum): The native cryptocurrency of the Ethereum blockchain, used for transactions, smart contracts, and decentralized applications.
- Bitcoin: The first decentralized cryptocurrency, operating on a peer-to-peer network without a central authority, widely considered a digital store of value.