Bitcoin News Update: BlackRock Allocates $115M in ETH, Driving Australian ETF Debut During Market Fluctuations
- BlackRock deposited $115M in ETH to Coinbase , signaling institutional crypto engagement ahead of its Australian Bitcoin ETF launch. - The firm holds 86% of its $97B crypto assets in Bitcoin, with recent $1B+ deposits raising market sell-off concerns. - Regulatory clarity in Australia and the U.S. may boost institutional adoption as BlackRock's custodial strategy focuses on ETF liquidity management.
BlackRock, recognized as the largest asset management firm globally, has transferred 34,777 ETH—worth about $115 million—into
This latest deposit comes during a period of heightened market turbulence, with both Bitcoin and Ethereum experiencing declines of more than 4% in the 24 hours before the transfer, as reported by
According to Finbold, BlackRock's digital asset portfolio is still predominantly composed of Bitcoin, which makes up 86% of its $97 billion in crypto holdings, with Ethereum representing the remaining 14%. Over the past five days, the company has moved more than $1 billion in BTC and ETH to Coinbase Prime, including a $383.9 million Bitcoin transaction and a $122 million Ethereum deposit on October 31, as detailed by TradingView. These sizable transfers have sparked concerns among traders about possible large-scale liquidations, although BlackRock has not yet carried out any major sales.
Market observers are paying close attention to BlackRock's activities, as its decisions could sway overall market sentiment. The recent influx of deposits has coincided with a significant market downturn, with the total crypto market capitalization shrinking by around $230 billion in under a day, according to Finbold. Liquidations of leveraged futures reached $1.27 billion, and the Fear & Greed Index dropped sharply to 27, signaling intense bearishness.
BlackRock appears to be focusing its custodial approach on liquidity optimization and ETF management. Its iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA) currently manage $85 billion and $14 billion in assets, respectively, as reported by
Although BlackRock's precise objectives remain uncertain, its repeated deposits underscore its expanding influence within institutional crypto markets. Regulatory bodies in both the U.S. and Australia have recently advanced efforts to establish formal guidelines for crypto investments, with ASIC's latest move to classify digital assets as financial products potentially paving the way for greater institutional participation as regulatory frameworks become clearer.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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