ETH ETF Outflows Hit $21.3M as BlackRock Dumps $45.4M in Ethereum

Ethereum saw large outflows and major sell-offs on the same day. Data shows that $21.3 million in Ethereum was withdrawn from ETFs. On that same day, BlackRock sold $45.4 million worth of Ethereum. Over the past week, BlackRocks total ETH sales reached $407 million.

BlackRock Cuts Ethereum Holdings as Selling Spree Continues

BlackRock sold $45.4 million in Ethereum on February 6. This follows a larger $157.2 million sale made on January 30. In total, BlackRock offloaded $407 million in Ethereum in the last seven days. This marks one of its largest periods of selling.

The reasons behind the sales remain unclear. Some traders are questioning the motive. As mentioned by, “Why is BlackRock suddenly selling this much ETH？” The timing of these sales aligns with a period of high trading volume. Ethereums 24-hour trading volume reached over $46 billion during this time.

Ethereum ETF Outflows Reach Over $21 Million

On the same day BlackRock sold its ETH, Ethereum ETFs saw $21.3 million in outflows. This suggests that investors may be withdrawing from funds tied to Ethereum. Large outflows often show changes in investor confidence or short-term strategy shifts.

Analysts are watching these numbers closely. The outflows follow a week of price volatility and market activity. However, Ethereum was trading up 4.54% in the last 24 hours. It reached a price of $2,035.98 at the time of the report.

Vitalik Buterin Also Sells Ethereum Holdings

Vitalik Buterin, the co-founder of Ethereum, sold over $14 million in ETH on the same day. His wallet showed multiple transfers to exchanges. The reason for these sales was not confirmed by Buterin or the Ethereum Foundation.

This has led to speculation on social media. One user. Buterins wallet has made past transfers, though not always followed by sales. The back-to-back sales by BlackRock and Buterin come during a critical time for ETH. Traders and analysts continue to watch for more moves in the coming days.