BlackRock sold $1B in BTC last week, Arkham reports

On-chain analysis platform Arkham (ARKM) reported that BlackRock, the world's largest asset manager and a spot Bitcoin ETF issuer, sold approximately $1.01 billion in Bitcoin last week. During this period, BlackRock was observed depositing Bitcoin daily to a Coinbase Prime address. These deposits are interpreted as part of the operational process for its IBIT spot ETF, likely to settle redemptions resulting from fund outflows.