BlackRock deposits $478.5M in Bitcoin and $195M in Ether into Coinbase
Crypto Briefing
BlackRock deposited $478.5 million in Bitcoin and $195 million in Ether into Coinbase today as part of its institutional ETF strategy.Summary
BlackRock recently deposited approximately 4,653 Bitcoin, valued at $478.5 million, and 57,455 Ethereum, valued at $195 million, into the Coinbase exchange. These significant transfers are consistent with the asset management giant's ongoing institutional crypto strategy involving its ETF products. Coinbase Prime serves as a crucial partner for BlackRock, facilitating these large-scale institutional crypto movements and custody services. This activity occurred while BlackRock's iShares Ethereum Trust experienced five consecutive days of outflows, and its iShares Bitcoin Trust saw four days of outflows.
(Source：Crypto Briefing)