While inflows into ETFs have slowed down along with Bitcoin (BTC) and the general decline in the market, WisdomTree, a major ETF provider in the US, came to the fore today with Bitcoin and Ethereum transfers.
Citing Arkham Intelligence data, on-chain analytics firm Onchain Lens reported that WisdomTree transferred BTC and ETH. According to the data, Wisdomtree deposited 8,258 thousand BTC worth approximately $598.89 million and 48,831 ETH worth $125 million to Coinbase.
These transfers were assessed to have a negative impact on investors’ confidence, especially in a volatile market.
WisdomTree still holds 13,868 BTC worth around $973 million and 16,767 ETH worth around $42.4 million.
This has further fueled concerns that if Wistomtree continues its sell-off, it could put further pressure on Bitcoin and Ethereum prices.
Apart from Bitcoin and Ethereum, Wisdomtree also holds other altcoins.
*This is not investment advice.
