The BlackRock Bitcoin Sell-Off That Never Happened

• BlackRock, Rumors of Large Bitcoin Sale Emerge
• Rumors Spread Due to Misunderstanding of ETF Outflows and Holdings Changes

[Unblock Media] Recently, rumors have been circulating that BlackRock has sold a large amount of Bitcoin, causing anxiety among investors. However, these rumors stem from misunderstandings related to Bitcoin ETF outflows and are not actually connected to changes in BlackRock's actual Bitcoin holdings.

BlackRock, one of the world's largest asset management firms, operates the iShares Bitcoin Trust (IBIT), a physical Bitcoin ETF. Recently, as funds flowed out of certain Bitcoin ETFs and trading volume surged, speculation spread in the market that BlackRock had sold their directly held Bitcoin. However, ETF outflows do not necessarily represent the sale of Bitcoin held by the ETF, as they are mostly related to the trading activities of liquidity providers and market makers.

[object Object] Young Ju, CEO of the on-chain analysis firm CryptoQuant, pointed out on his Twitter that "BlackRock did not sell their directly held Bitcoin; it was merely a transaction arising from the ETF structure," emphasizing that the rumor was misinformation. He further criticized, saying that "[object Object]"

The cryptocurrency market is highly volatile, and specific events or rumors can greatly impact prices. Consequently, media often use sensational headlines to attract readers' attention. However, such reports can cause unnecessary fear among investors and exacerbate market volatility.

In this instance, the simple outflow of Bitcoin from an ETF was misinterpreted as BlackRock's direct sale, leading to chaos in the market. According to official documents submitted to the U.S. Securities and Exchange Commission (SEC), there has been no significant change in BlackRock's Bitcoin holdings, and the net asset value (NAV) of the ETF remains stable.

Bitcoin maintains a strong presence in the market. As of February 2025, Bitcoin's market capitalization is approximately $1.6193 trillion, accounting for 59.86% of the entire cryptocurrency market. The trading volume over the past 24 hours was recorded at $81.3 billion, with Bitcoin trading around $81,659. Nonetheless, the price has adjusted by about 19.76% over the past 30 days. While this decline is related to ETF outflows, it is not due to BlackRock's direct sale.

The recent rumor of BlackRock's large sell-off has ultimately been debunked as exaggerated information, underscoring the importance of discerning information in the cryptocurrency market. Investors should strive to understand the market based on more objective and verified data rather than being swayed by provocative headlines from the media.