BlackRock deposits $391M in Bitcoin to Coinbase Prime
Crypto Briefing
BlackRock deposited approximately $391 million in 4,471 Bitcoin to Coinbase Prime to support its spot cryptocurrency ETFs.Summary
BlackRock, a major asset management firm, transferred about 4,471 Bitcoin, valued at roughly $391 million, to Coinbase Prime. This deposit is part of BlackRock's ongoing management of its spot cryptocurrency exchange-traded funds (ETFs), including Bitcoin and Ethereum funds, utilizing Coinbase Prime as an institutional custody and trading platform for portfolio operations. This movement occurs while BlackRock’s Bitcoin ETF has recently experienced significant redemptions, including $149 million in net outflows on the previous day, marking three consecutive days of negative flows.
(Source：Crypto Briefing)