BlackRock Transfers Over $120M in Bitcoin and Ethereum to Coinbase Prime
- BlackRock moved 1,134 Bitcoin worth approximately $101 million to Coinbase Prime.
- The transaction also included 7,255 Ethereum, valued at about $22 million.
- This transfer occurred amidst significant outflows from crypto exchange-traded products, including BlackRock’s own offerings.
- US spot Bitcoin ETFs experienced outflows of $348 million as of December 31, led by BlackRock’s IBIT with a $99 million withdrawal.
- Despite the outflows, IBIT remains dominant in the Bitcoin ETF market, holding 770,791 BTC valued at roughly $67.4 billion.
A wallet labeled for BlackRock transferred over $120 million in Bitcoin and Ethereum to Coinbase Prime during a time of substantial outflows from crypto exchange-traded products. Despite these withdrawals, BlackRock’s IBIT continues to lead the Bitcoin ETF market with significant holdings.
Source (3.2)https://cryptobriefing.com/blackrock-bitcoin-ethereum-transfer-coinbase-prime/?rand=59535
