In a significant move, clients of BlackRock sold 2,610 Bitcoin worth approximately $257 million on Thursday, signaling a notable trend of institutional outflows from the asset management titan”s cryptocurrency holdings.
This transaction underscores ongoing adjustments in institutional portfolios, as clients are actively reducing their exposure to Bitcoin. BlackRock, recognized as the largest asset manager globally, has been transferring Bitcoin to exchanges in recent sessions to fulfill client redemptions.
The company has experienced consecutive days of Bitcoin outflows, with these sales being driven by client decisions rather than the firm”s own trading strategies. This trend aligns with broader institutional rebalancing efforts, as major asset managers react to evolving client preferences amid a volatile market landscape.
The recent $257 million sale is part of a larger pattern of institutional Bitcoin sales, with other prominent asset managers, including Fidelity and Grayscale, also reporting similar client-driven transactions.
On November 13, US-listed spot Bitcoin ETFs faced approximately $867 million in net outflows, further highlighting the shifting dynamics within the institutional investment community.
