BlackRock Transfers 1,633 Bitcoin to Coinbase Prime
- BlackRock transferred 1,633 Bitcoin, valued at approximately $142.6 million, to Coinbase Prime.
- The transaction is part of routine ETF liquidity management and does not necessarily indicate selling pressure.
- Coinbase Prime serves as an institutional trading platform offering custody and execution services for large-scale crypto transactions.
- BlackRock manages investment products including spot Bitcoin and Ethereum ETFs for institutional clients.
- BlackRock’s Bitcoin ETF (IBIT) saw about $66 million in net withdrawals recently, while competing funds from Fidelity and ARK Invest reported gains.
BlackRock’s transfer of 1,633 Bitcoin to Coinbase Prime is a strategic move for ETF liquidity management rather than a signal of selling pressure. The transaction aligns with BlackRock’s active management of crypto holdings within its investment products.
Source (3.2)https://cryptobriefing.com/blackrock-transfers-bitcoin-coinbase-prime-etf-liquidity/?rand=59535
