BlackRock Transfers $120 Million in Bitcoin and Ethereum to Coinbase Prime
•Cryptocurrency
BlackRock's Strategic Crypto Move
BlackRock has strategically moved over $120 million in Bitcoin and Ethereum to Coinbase Prime, signaling a significant shift in its crypto asset management. This transaction involved 1,134 Bitcoin, valued at approximately $101 million, and 7,255 Ethereum, worth around $22 million.
Key Details
- The transfer highlights BlackRock's ongoing involvement in the cryptocurrency market.
- This move comes amid substantial outflows from crypto exchange-traded products, including BlackRock's own ETFs.
According to data from Farside Investors, U.S. spot Bitcoin ETFs experienced a reversal into outflows by the end of 2025, with a total of $348 million withdrawn. BlackRock's IBIT was a major contributor, accounting for $99 million of the outflows. Despite this, IBIT continues to lead the Bitcoin ETF sector, managing 770,791 BTC with a market value of about $67.4 billion.