BlackRock sells Bitcoin for the second time since BTC ETF launch — What’s next?
BlackRock‘s (NYSE: BLK) iShares Bitcoin Trust (IBIT) has shown remarkable resilience amid Bitcoin (BTC) outflows from other exchange-traded funds (ETFs). However, the IBIT ETF registered its second-ever outflow on August 28, raising concerns among Bitcoin investors as a bearish indicator. Notably, the two-only outflows from IBIT were significantly small compared to all the inflows since its launch in January. On April 30, the iShares Bitcoin Trust sold $38.68 million worth of BTC for the first time. In this most recent activity, BlackRock sold an even smaller amount of 227.62 BTC, worth $13.43 million. Despite immediate concerns about a more bearish outlook, the finance giant has shown a bullish bias toward the leading cryptocurrency. Picks for you Bitcoin price prediction as Trump plans to make U.S. ‘crypto capital of the planet’ ...