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Opinion: BlackRock may sell $506 billion worth of Bitcoin and Ethereum

Online reports, Digital Asset reports that BlackRock transferred $366 million worth of BTC and ETH to virtual asset exchange Coinbase, hinting at a possible large-scale sell-off. According to LookOnChain, BlackRock transferred 1885 bitcoins and 59606 Ethereum to CoinbasePrime on August 21, with a total value of $366 million. Markets are divided on the interpretation of BlackRock's asset transfer. Some analysts believe this may be a simple portfolio rebalancing, while others believe it may reflect weakening institutional investor sentiment. BlackRock's massive virtual asset transfer has exacerbated market anxiety, especially in the context of an upcoming speech by Federal Reserve Chairman Jerome Powell. According to CoinMarketCap data, on August 22, the trading price of Bitcoin was US$112,975.31, down 0.61% from the previous day; the trading price of Ethereum was US$4,280.45, down 0.22%.

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