BlackRock sold over $350 million of this cryptocurrency in a week
BlackRock’s spot Ethereum ETF (ETHA) had one of its most turbulent weeks, with trading activity dominated by large-scale outflows before staging a sharp rebound. The world’s largest asset manager sold a total of $351.3 million worth of Ethereum (ETH), equivalent to about 84,000 ETH, across three sessions between August 18 and August 20, according to data from Coinglass . Ethereum ETF net inflow. Source: Coinglass The heaviest selling came on August 20, when BlackRock’s fund posted $257.8 million in redemptions, marking the single-largest daily outflow of the week. Earlier, on August 18, the ETF shed $87.2 million, followed by a smaller sell-off of $6.3 million on August 19. Despite the outsized outflows, momentum shifted later in the week. On August 21, BlackRock attracted $233.6 million in Ethereum inflows, followed by an additional $109.4 million on August 22. Across all issuers, Ethereum spot ETFs recorded net weekly outflows of $233.7 million. BlackRock’s a...