BlackRock moves $192M in Bitcoin to Coinbase following last week’s $435M outflow

BlackRock moves $192M in Bitcoin to Coinbase following last week’s $435M outflow

BlackRock's strategic Bitcoin movement highlights the ongoing volatility and strategic maneuvers in asset management.

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by Vivian Nguyen | Powered by Gloria

BlackRock, the world’s largest asset manager, deposited over 2,200 Bitcoin worth around $192 million and $22 million in Ethereum to Coinbase Prime today, according to data from Arkham Intelligence.

The latest transfers come after IBIT, the company’s flagship Bitcoin ETF, recorded $435 million in net outflows last week. Recent weeks have brought choppy flows overall, but outflows have generally outweighed inflows.

BlackRock’s Ethereum ETF (ETHA) has also seen extended investor withdrawals in recent weeks, including $69 million last week.

Bitcoin has seen sharp price swings, climbing above $90,000 over the weekend before easing to $87,703, per CoinGecko. Ethereum likewise pulled back below $3,000 after earlier gains.

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BlackRock moves $192M in Bitcoin to Coinbase following last week’s $435M outflow

BlackRock moves $192M in Bitcoin to Coinbase following last week’s $435M outflow

BlackRock's strategic Bitcoin movement highlights the ongoing volatility and strategic maneuvers in asset management.

by Vivian Nguyen | Powered by Gloria

Share

Add us on Google

BlackRock, the world’s largest asset manager, deposited over 2,200 Bitcoin worth around $192 million and $22 million in Ethereum to Coinbase Prime today, according to data from Arkham Intelligence.

The latest transfers come after IBIT, the company’s flagship Bitcoin ETF, recorded $435 million in net outflows last week. Recent weeks have brought choppy flows overall, but outflows have generally outweighed inflows.

BlackRock’s Ethereum ETF (ETHA) has also seen extended investor withdrawals in recent weeks, including $69 million last week.

Bitcoin has seen sharp price swings, climbing above $90,000 over the weekend before easing to $87,703, per CoinGecko. Ethereum likewise pulled back below $3,000 after earlier gains.