$217.5M
3IQ: QBTC The Bitcoin Fund
➔ 3IQ: QBTC The Bitcoin Fund
Capital shifting between wallets, neutral flow change. $217.5M BTC moved from 3IQ: QBTC The Bitcoin Fund to 3IQ: QBTC The Bitcoin Fund on Bitcoin. Monitor the follow-up routing to distinguish internal treasury rotation, market-maker rebalancing, bridge settlement, and exchange wallet management from a true directional position change, because similar routes can look bullish or bearish without full context. Low priority whale transactions capital flow: treat as context unless similar transfers repeat.