BlackRock Moves Billions in Bitcoin and Ethereum to Coinbase

BlackRock, the world’s largest asset manager, has transferred a substantial sum of Bitcoin and Ethereum to Coinbase Prime, a platform specifically designed for institutional investors. The transfer, totaling over $643 million, consists of 4,880 BTC ($467.16 million) and 54,730 ETH ($175.93 million), according to on-chain data. This move is sparking speculation about BlackRock’s future plans within the cryptocurrency industry. Is it a prelude to an ETF launch? A strategic shift in its holdings? The timing of this transfer and the scale of involvement suggest that BlackRock might be preparing for substantial activity in the crypto market.