BlackRock sends $181 million in Bitcoin, Ether to Coinbase amid crypto sell-off
Crypto Briefing
BlackRock moved $181 million in Bitcoin and Ether to Coinbase Prime during a cryptocurrency market slump.Summary
BlackRock transferred $181 million worth of digital assets, specifically 612 BTC ($41 million) and 68,567 Ether ($140 million), to Coinbase Prime amidst a broader cryptocurrency market downturn. This transfer occurred as Bitcoin dropped below $67,000 and Ether fell below $2,000, leading to a 3% decrease in total crypto market capitalization. Although the transfer might be related to buying on the dip rather than selling, it drew attention amid mixed demand for crypto ETFs. BlackRock's spot Bitcoin ETF (IBIT) saw net inflows of $44 million for the week, despite recent outflows, while its spot Ether ETF (ETHA) experienced significant withdrawals this week.
(Source：Crypto Briefing)