BlackRock sells $331.5M in Bitcoin and Ethereum amid ETF investor withdrawals - Pluang
BlackRock, the world's largest asset manager, sold $331.51 million worth of Bitcoin and Ethereum due to investor redemptions from its spot ETFs.
The sales, split between $213.23 million in Bitcoin and $118.28 million in Ethereum, reflect routine fund management rather than speculative trading. These outflows are driven by investors redeeming shares, requiring BlackRock to sell crypto to meet demand.
Market Context
Despite these withdrawals, BlackRock's crypto ETFs remain the largest in the US, highlighting ongoing investor interest but also shifting sentiment. As of Nov 10, 2026, out of 50 major cryptocurrencies, 30 rose and 18 fell.
Notable market movements include SXP down 46.27%, ONE down 16.89% with 58% sell order activity, and BAL up 11.14%.
Industry Developments
Elsewhere in crypto, Emirates NBD announced plans to add US dollar-backed stablecoin USDU to its Liv digital banking app, expanding digital asset services through partnerships with Universal Digital Intl Ltd. and Aquanow ME FZE.
Meanwhile, Monero (XMR) fell about 5.6% to $568 with no clear news trigger, while THORChain completed technical integration for XMR swaps but has not enabled trading yet due to a required node key rotation expected in 1-2 weeks.
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