BlackRock transfers 3,064 BTC and 64,707 ETH to Coinbase for $478M

Key Takeaways

BlackRock transferred 3,064 BTC and 64,707 ETH to Coinbase Prime.
These transfers are consistent with BlackRock’s previous institutional crypto asset management practices.

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BlackRock today transferred 3,064 Bitcoin and 64,707 Ethereum tokens to Coinbase, valued at approximately $478 million. The asset management giant moved the digital assets to Coinbase Prime, the exchange’s institutional custody platform.

BlackRock has maintained a pattern of depositing Bitcoin and Ethereum on Coinbase Prime, indicating routine adjustments for liquidity or asset management. The transfers come amid ongoing market fluctuations, with Bitcoin recently experiencing a sharp correction.

BlackRock’s IBIT just recorded around $145 million in net withdrawals on Monday, extending its outflow streak amid market uncertainty.