According to on-chain monitoring by Lookonchain, a BlackRock-associated address deposited 4,984.56 BTC (~$295M) and 30,725 ETH (~$48.58M) into Coinbase Prime, for a combined value of approximately $344 million. The large transfer has drawn attention to institutional movements, potentially signaling portfolio rebalancing or liquidity provision.
BlackRock's Massive Transfer to Coinbase Prime
On-chain data from Lookonchain reveals that a wallet linked to asset manager BlackRock has moved 4,984.56 Bitcoin (valued at around $295 million) and 30,725 Ethereum (worth approximately $48.58 million) to a Coinbase Prime address. The total value of the transfer stands at roughly $344 million. Such large-scale institutional deposits often precede ETF subscription/redemption activities or OTC block trades. Market participants are closely watching for any follow-up moves by BlackRock, given its significant role in the crypto ETF space.
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