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BlackRock deposits 2,043 BTC and 22,681 ETH into Coinbase
The transfers could signal custody rebalancing, tokenization activity, or potential redemptions or sales.
BlackRock, the world’s largest asset manager, deposited approximately 2,043 BTC and 22,681 ETH into Coinbase today, according to data tracked by Arkham Intelligence.
The deposits are worth approximately $213 million in Bitcoin and $80 million in Ethereum based on current market prices.
BlackRock has been making recurring deposits of crypto assets to Coinbase Prime, signaling continued institutional engagement in the digital asset market. The asset manager uses Coinbase as a primary custodian for its crypto-related activities, including ETF operations and asset tokenization initiatives.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.