Important points
- Today, $396 million worth of Bitcoin was sold by clients of BlackRock, Fidelity, and ARK 21Shares, indicating a large-scale institutional exodus.
- The sale was conducted across major Bitcoin exchange-traded funds (ETFs), reflecting financial institutions' reaction to market volatility and economic signals.
Clients of BlackRock, Fidelity and ARK 21Shares sold $396 million worth of Bitcoin on Wednesday, marking a major exodus of institutional investors from major crypto exchange-traded funds.
The coordinated selling across multiple Bitcoin ETFs reflects institutions’ responses to market volatility and economic signals. BlackRock, a prominent asset management company, has been actively managing Bitcoin exchange-traded funds using strategies such as volatility-based trading approaches.
Recent patterns show that Bitcoin outflows from major ETFs often coincide with option expirations or federal monetary policy updates.
ARK 21Shares, which specializes in crypto ETFs, has shown recent activity in adjusting its Bitcoin holdings alongside other institutional investors in response to market conditions.
