BlackRock Moves $387M in BTC & ETH to Coinbase Prime
BlackRock transfers $387M worth of BTC and ETH to Coinbase Prime, sparking market speculation.
- BlackRock deposits $250M in BTC, $136M in ETH.
- Funds moved to Coinbase Prime in past 3 hours.
- Action raises questions about institutional strategy.
BlackRock Transfers $387M in Crypto to Coinbase Prime
In a massive on-chain move that’s caught the crypto community’s attention, asset management giant BlackRock transferred approximately $387 million worth of Bitcoin and Ethereum to Coinbase Prime over the last three hours.
The transaction included 2,610 BTC valued at around $250.2 million and 43,240 ETH worth approximately $136.7 million. These funds were sent to Coinbase Prime, the institutional arm of the popular crypto exchange, suggesting strategic activity at a high level.
This movement comes amid growing institutional interest in crypto assets, especially with the ongoing rise in ETF trading volumes and increasing U.S. regulatory clarity.
What Does This Mean for the Market?
Such a large-scale deposit by BlackRock has sparked a wave of speculation. Typically, when crypto assets are moved into exchanges, it may suggest a potential intent to sell or rebalance portfolios. However, in the case of institutional-grade platforms like Coinbase Prime, the move could also signal custodial management or preparation for large over-the-counter (OTC) deals.
Some analysts believe the deposit could be related to liquidity management or ETF-backed fund flows. BlackRock has been actively involved in Bitcoin spot ETF activity through its iShares Bitcoin Trust (IBIT), which has become one of the largest in the market.
With over $387 million moved in such a short time frame, market watchers will be keeping a close eye on BTC and ETH price movements in the coming hours and days.
A Sign of Growing Institutional Influence
BlackRock’s continued activity in crypto—especially through regulated and compliant platforms like Coinbase Prime—highlights the maturing nature of digital assets in the eyes of traditional finance. Whether these assets are being prepared for sale, custody, or a reallocation remains unclear, but the scale of the movement confirms one thing: institutional crypto activity is alive and well.
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