WisdomTree offloads $599M in BTC and ETH, spooking crypto investors.
Bitcoin, Ethereum prices dip; market sentiment weakens amid continued volatility.
WisdomTree, a leading provider of exchange-traded funds (ETFs) in the digital assets space, has triggered market anxiety with substantial Bitcoin and Ethereum transfers amid a turbulent period for cryptocurrencies. According to Onchain Lens, using Arkham Intelligence data, WisdomTree deposited 8,258 BTC—equivalent to roughly $598.89 million—into Coinbase on October 31. Alongside this, the firm transferred 48.83 ETH, valued at $125,000, bringing the total to nearly $599 million.
The timing of these large transactions is significant, as both Bitcoin and Ethereum are experiencing considerable price declines. Bitcoin has dropped over 4%, while Ethereum has slipped by 5%, contributing to a 3.9% reduction in the overall crypto market cap within the past 24 hours. Investors are increasingly apprehensive, given WisdomTree’s re
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