Blockchain monitoring platform Onchain Lens detected a significant deposit by BlackRock, the world’s largest asset manager, into cryptocurrency exchange Coinbase. The transfer comprised 900 BTC (valued at approximately $62.55 million) and 17,511 ETH (valued at approximately $34.57 million), bringing the total to around $97.12 million.
Onchain Lens also noted that BlackRock may continue with additional transfers. While the exact purpose remains undisclosed, such large-scale on-chain movements by institutional players are often associated with custody, trading, or asset reallocation. As a traditional financial giant deeply involved in the crypto space, BlackRock’s on-chain actions continue to draw significant market attention.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.