BlackRock Wallet sends funds to a compliant platform: Is it a large-scale sell-off or normal redemption?

Source: CritpoTendencia Original Title: BlackRock Wallets Send Funds to Coinbase Prime, Dumping or Reimbursements? Original Link: During this Thursday, some wallets associated with the BlackRock ETF sent BTC and ETH to a certain compliant platform. These movements have attracted market attention, with concerns that this asset management company might be undergoing significant liquidation.

However, there are strong reasons to believe these transfers are unrelated to direct asset sales.

Typically, transfers to exchanges are interpreted as signals of intentional selling. However, they could also be due to custody operations, fund rotations, or security measures. The third alternative, which currently holds significant weight, is that these movements correspond to investor-initiated redemptions.

According to Farside Investors, on Wednesday, BlackRock’s IBIT fund (which provides BTC spot exposure) recorded a net outflow of $356.6 million. Meanwhile, the company’s ETHA fund (focused on ETH) experienced a withdrawal of $9.2 million. Overall, the net outflow between these two products reached $448.9 million.

These movements align with the transfers of BTC and ETH from BlackRock wallets to a certain compliant platform. Specifically, 3,070 BTC and 52,780 ETH were transferred. Based on market prices, the amount received roughly matches the reported outflows.

From a practical perspective, this reinforces the interpretation that these are normal redemptions resulting from ETF daily operations.

BlackRock Wallets Are Not Engaged in Massive Selling

Given that addresses associated with BlackRock (tracked by Arkham) do not show signs of large-scale selling, market tension should ease. Part of this distrust stems from accusations previously made by high-profile figures like Robert Kiyosaki.

Last year, Kiyosaki claimed that BlackRock was deliberately selling to suppress prices, making it easier for large investors to buy at lower levels.

These statements were widely circulated on social media, fueling repeated speculation and FUD events. However, so far, there is no concrete evidence indicating that BlackRock or other ETF issuers are engaged in market manipulation.

Current data, combined with the coincidence between on-chain transfers and fund outflows, seem to disprove this narrative. It is explained by the ETF’s own mechanisms: in products like IBIT and ETHA, BlackRock mainly acts as custodian and operator, executing buy and sell orders according to investor instructions.

Furthermore, these companies’ revenue structures are based on management fees, which tend to increase when asset prices rise. From this perspective, BlackRock has no clear economic incentive to liquidate positions on its own.

In this context, recent transfers from its wallets can be interpreted as movements consistent with business operations and client decisions.