Today, Grayscale's ETF sales were significant in both #Ethereum  and #Bitcoin, with a lot of the sell-off being picked up by BlackRock. The difference is that while #ETH was not fully absorbed, #BTC not only was picked up but also saw net inflows, suggesting some users might be switching holdings.

Over the past 24 hours, Grayscale sold a total of 513.32 #BTC, while BlackRock net added 1,547 #BTC, more than three times what Grayscale sold. Additionally, Fidelity and Bitwise each added 262 and 272 #BTC, respectively.

So, even though the rest were zero, the twelve US #ETF institutions still increased their holdings by 1,569 BTC, marking the fourth consecutive day of net increases. BlackRock's buying sentiment has been positive these past few days, evident in both #BTC and #ETH allocations.
#Ethereum #Bitcoin #ETH #BTC