BlackRock’s $548 million Bitcoin transfers spark alarm

Social media lit up with panic this week after on-chain trackers flagged massive Bitcoin transfers linked to BlackRock’s iShares Bitcoin Trust (IBIT). Headlines screamed of a “dump,” with over 50,000 BTC ($548 million) shifted in the past week alone. At face value, it looks like Wall Street’s biggest Bitcoin ETF custodian is unloading coins, but the reality is far less dramatic. What’s happening with IBIT Data shows 8,668 IBIT-linked Bitcoin transactions over the past week, with BlackRock’s ETF balance dropping from 562,000 BTC to 511,978 BTC source: https://finbold.com/blackrocks-548-million-bitcoin-transfers-spark-alarm/