BlackRock Is Selling BTC at the Fastest Rate Ever: Details

In today’s Bitcoin news, BlackRock drew major market attention after moving more than half a billion dollars worth of BTC to Coinbase Prime. According to Lookonchain, the firm transferred roughly 7,048 BTC worth approximately $517 million into Coinbase Prime wallets.

Notably, the transfer marked BlackRock’s largest single-day net bitcoin outflow ever. Consequently, traders across the crypto market began speculating that institutional selling may be accelerating amid the broader market downturn.

BlackRock Moves Over $500 Million in Bitcoin

Data from Arkham Intelligence revealed that BlackRock executed the transfers in four separate transactions over the past two hours. The largest movement involved 3,000 BTC worth approximately $219.8 million, while another transfer moved 3,600 BTC valued at nearly $263.86 million.

In addition, the latest transaction occurred within the last hour and involved 148 BTC leaving BlackRock’s IBIT ETF wallets for Coinbase Prime. Combined, the transfers quickly became one of the largest Bitcoin movements tied to BlackRock since the launch of spot Bitcoin ETFs.

Meanwhile, blockchain data also showed multiple 300 BTC transactions worth roughly $22 million each. However, these transfers moved into BlackRock-controlled Coinbase Prime wallets, suggesting internal custody management or fund reallocation activity. Coinbase Prime currently serves as BlackRock’s institutional custody and settlement partner for IBIT operations.

BlackRock Sell Activity Puts Market on High Alert

The scale and speed of the outflows into non-ETF-associated exchange wallets immediately alarmed traders because BlackRock has remained one of the biggest institutional Bitcoin buyers throughout the current market cycle.

Since the launch of spot Bitcoin ETFs, BlackRock’s IBIT fund has consistently ranked among the world’s largest Bitcoin accumulation vehicles.

Currently, BlackRock holds approximately 801,477 BTC worth around $58.29 billion. As a result, the firm now controls 3.81% of Bitcoin’s total supply.

Many traders associate BlackRock inflows with bullish momentum and rising institutional confidence. Conversely, large outflows often signal weakening sentiment. Therefore, the sudden movement of more than 7,048 BTC quickly triggered bearish speculation across crypto markets and social media platforms.

Bitcoin Faces Renewed Market Pressure

The massive transfers also arrived during one of Bitcoin’s weakest periods in recent months. At the time of writing, Bitcoin had fallen below the $74,000 level and traded around $73,006.

The latest decline followed renewed military escalation between the United States and Iran, which triggered another wave of bloodbath across global financial markets.

At the same time, geopolitical tensions pushed oil prices higher as investors reacted to fears of potential supply disruptions near the Strait of Hormuz. Consequently, the uncertainty placed additional pressure on crypto markets, which have remained highly sensitive to macroeconomic and geopolitical shocks throughout the year.

Additionally, most spot Bitcoin ETFs have recorded persistent net outflows this week. These investment products have remained on a net outflow streak since Friday, May 15, losing more than $2.6 billion during that period.

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