Warning: BlackRock’s Ethereum sale may spook investors
Ethereum (ETH) exchange-traded funds (ETFs) saw another day of significant outflows, with $108.31 million in withdrawals reported on Tuesday, September 23. Surprisingly, BlackRockdid not report the largest losses, losing only 3,630 ETH, worth approximately $15.1 million, however, its sale is still notable, as the fund had not sold Ethereum in nearly a week, since September 17, when it dumped over $20 million worth of the cryptocurrency, again exactly one week after selling over $45 million in ETH, according to data retrieved by Finbold from Arkham. BlackRock Ethereum outflows. Source: Arkham Intelligence Also worth noting is the fact that no Ethereum fund saw any inflows yesterday, showing that major issuers have turned more cautious in the face of heightened volatility. Ethereum still struggling In terms of price, Ethereum traded at $4,180 at press time, down more than 7% on the weekly chart. Its market capitalization stood at $504.52 billion, while...