BlackRock deposits $222M in Bitcoin and $137M in Ether into Coinbase Prime
Crypto Briefing
BlackRock moved $222 million in Bitcoin and $137 million in Ether to Coinbase amid significant recent outflows from crypto ETFs.Summary
BlackRock, the world's largest asset manager, deposited 2,310 Bitcoin valued at $222 million and 43,240 Ethereum valued at approximately $137 million into Coinbase on Friday. This institutional transfer highlights the increasing integration of digital assets with traditional finance, particularly in managing liquidity related to spot Bitcoin and Ethereum ETFs. The move follows a day where US-listed spot Bitcoin ETFs experienced net outflows of about $867 million, and Ethereum ETFs saw $260 million withdrawn, with BlackRock's IBIT recording the largest daily outflow among crypto ETPs. These deposits have generated speculation regarding potential selling pressure.
(Source：Crypto Briefing)