BlackRock continues large-scale Ethereum sell-off

Source: BlockMedia Original Title: BlackRock Continues Large-Scale Ethereum Sell-Off Original Link: Despite the recent uptrend in the cryptocurrency market over the past day, the world’s largest asset manager, BlackRock(BlackRock), reportedly continues its spree of selling Ethereum(Ethereum).

According to data from on-chain analytics firm Lookonchain(Lookonchain), BlackRock has deposited a large amount of Ethereum to a compliant platform. Amid a strong cryptocurrency price rebound, BlackRock moved 44,140 ETH worth approximately $135.36 million, a move interpreted as selling intent.

These deposits consisted of four transactions of 10,000 ETH each, and a single transaction of 4,140 ETH, totaling 44,140 ETH deposited in one day. Such activity is part of a steady sell-off from BlackRock’s Ethereum ETF wallet over the past month, sparking much discussion within the crypto community.

Maintaining a Firm Selling Stance Despite Market Rebound

Previously, it was speculated that BlackRock’s selling of Bitcoin(Bitcoin) and Ethereum was a response to the market downturn seen over the past month. However, despite the recent market rebound, BlackRock has not halted its selling activities.

Over the course of a single day, Ethereum surged over 7%, briefly exceeding $3,100 and reaching its highest price in weeks. Alongside this, major cryptocurrencies have shown strong upward momentum, improving the overall market sentiment. Nevertheless, BlackRock’s continued sell-off invalidates the assumption that these moves are merely a hedging strategy in response to rising markets. Instead, BlackRock appears to be accelerating large deposits—and potential sales—of Bitcoin and Ethereum, signaling its intent to sell even as the market returns to a bullish phase.

Currently, BlackRock has not released a clear statement regarding these consistent Ethereum movements. Discussions continue as to whether this activity is merely ETF rebalancing, profit-taking, or part of a larger strategic shift related to changing market sentiment.