BlackRock transfers $120M in Bitcoin, $2.5M in Ethereum to Coinbase Prime
Crypto Briefing
BlackRock moved $120 million in Bitcoin and $2.5 million in Ethereum to the institutional platform Coinbase Prime.Summary
BlackRock, the world's largest asset manager, recently transferred approximately $120 million worth of Bitcoin and $2.5 million worth of Ethereum to Coinbase Prime. These transactions are indicative of ongoing strategic portfolio adjustments BlackRock is making with its digital asset holdings. Coinbase Prime serves as a secure custody and high-volume trading service utilized by institutional investors, and BlackRock has frequently used this platform for its crypto-related activities, including managing assets for its spot Bitcoin and Ethereum ETFs. This movement occurred on the same day BlackRock's Bitcoin ETF experienced $113 million in net outflows, while its Ethereum ETF saw $28 million in inflows.
(Source：Crypto Briefing)