WisdomTree, a major ETF provider in the United States, has deposited $599 million worth of Bitcoin and Ethereum on Coinbase, leading to concerns about further price declines.
WisdomTree currently holds 5,611 BTC and 16,767 ETH, valued at approximately $388 million and $41.9 million, respectively.
If WisdomTree proceeds with selling its holdings, it could put additional pressure on crypto prices.
Despite the recent sell-off, some investors remain optimistic about the crypto market following the upcoming US Presidential Election.