BlackRock moves $110M in Bitcoin and $78M in Ethereum to Coinbase Prime
Major transfers signal active fund management as Bitcoin and Ethereum products face outflows and price volatility.
Key Takeaways
- BlackRock transferred $110 million in Bitcoin and $78 million in Ethereum to Coinbase Prime.
- Both BlackRock's Bitcoin and Ethereum ETFs have seen recent net outflows.
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BlackRock deposited 1,198 Bitcoin worth around $110 million and 24,792 Ethereum worth about $78 million to Coinbase Prime today, according to Arkham Intelligence data.
The asset manager’s latest transfers came amid Bitcoin’s rally to $92,000. The digital asset was trading at $91,767 at press time, up approximately 3% in the last 24 hours, per CoinGecko.
BlackRock’s on-chain movements often draw scrutiny given the firm manages the world’s leading Bitcoin and Ethereum investment products.
Its ETFs have shown mixed momentum in recent weeks. The IBIT fund saw $49 million in net outflows last week, while its Ethereum ETF shed $82.5 million, according to Farside Investors.
