BlackRock cuts cryptocurrency holdings, institutional caution rises

BlackRock sold over $900 million in an undisclosed cryptocurrency over the past week, indicating that it has strategically reduced its positions amid market volatility and regulatory uncertainty. The divestment was conducted on multiple exchanges, aiming to minimize market impact, reflecting the growing caution of institutional investors with high-risk digital assets. While retaining other cryptocurrencies’ positions, BlackRock’s move is also in line with a broader portfolio adjustment trend to cope with changing regulatory and macroeconomic pressures, including rising interest rates. Analysts believe the sale could affect other institutional investors reevaluate their cryptocurrency strategies.