BlackRock Shifts Focus Bitcoin to Ethereum Amid Crypto Crash
TLDR
- BlackRock deposited $28.36M in Bitcoin and withdrew $45.47M in Ethereum.
- Ethereum-based funds see increasing institutional interest amid Bitcoin outflows.
- Over $1 billion in liquidations hit the crypto market in the past 24 hours.
- Ethereum’s open interest decreases, suggesting stability despite market turmoil.
In a surprising move amid a volatile crypto market, BlackRock has adjusted its cryptocurrency portfolio by shifting millions from Bitcoin (BTC) to Ethereum (ETH). The largest asset manager in the world has moved away from Bitcoin’s declining performance, increasing its investment in Ethereum, signaling a broader change in investor behavior during a market downturn. This shift comes as major institutional…
