Blackrock Deposits $114.97 Million in Ethereum on Coinbase

Blackrock has made a substantial move in the cryptocurrency market, depositing 34,777 ETH worth $114.97 million into Coinbase exchange. While the exact reason for this action remains unclear, market analysts are speculating that it could signal preparation for sales or redemptions of Ethereum-related assets. This significant transfer has drawn attention from financial experts and crypto enthusiasts alike, as BlackRock’s actions may impact broader Ethereum markets and related DeFi protocols.