BlackRock clients pulled $127 million from the firm’s Bitcoin ETF on Friday, marking another sizable outflow from the asset manager’s cryptocurrency holdings.

BlackRock, a prominent asset manager, has experienced a series of Bitcoin outflows in recent periods, raising questions about shifting institutional sentiment toward crypto assets.

Investors are monitoring BlackRock’s asset transfers to exchanges as potential indicators of broader market adjustments. Other major asset managers have also reported client-driven Bitcoin sales, reflecting portfolio rebalancing in volatile conditions.