BlackRock reduced its cryptocurrency exposure on Aug. 21, moving about 1,885 Bitcoin valued at roughly $112 million and 59,606 Ether worth about $254 million to Coinbase Prime, according to blockchain-tracking services. Earlier in the day, exchange-traded funds run by BlackRock and Fidelity disclosed combined net sales of roughly $316 million in Bitcoin. The sales contrasted with fresh demand from other large investors. The California State Teachers’ Retirement System, the nation’s second-largest public pension fund, reported a $133 million position in Strategy—formerly MicroStrategy—giving the $370 billion fund indirect exposure to Bitcoin equal to about 0.03% of assets. Trading firm Jane Street Group separately increased its spot-Bitcoin ETF holdings to $3.4 billion, while German insurer Allianz, which oversees $2.1 trillion, said Bitcoin is a “credible store of value” that belongs “at the forefront of long-term portfolio construction.” Market data show public companies now control 979,333 Bitcoin valued at roughly $111 billion, or 4.66% of the cryptocurrency’s fixed supply, underscoring the growing but uneven institutional footprint as managers rebalance positions.