BlackRock Moves $815 Million in Crypto to Coinbase Prime Amidst Market Turmoil

Global asset manager BlackRock has transferred approximately $815 million in Bitcoin and Ethereum to Coinbase Prime, fueling speculation about market shifts. This move coincides with significant outflows from US-based crypto exchange-traded funds (ETFs), including BlackRock’s own. While the exact reason for these transfers remains unclear, experts point to potential ETF activity as a key driver.