BlackRock Transacts Over $1 Billion in Bitcoin and Ethereum with Coinbase

BlackRock, a major asset management firm, has recently undertaken significant transfers of its Bitcoin (BTC) and Ethereum (ETH) holdings to Coinbase. On-chain data reveals that the company moved nearly $1 billion worth of these cryptocurrencies across two consecutive days, raising questions about its investment strategy. Arkham Intelligence was able to spot these transfers, which involved substantial deposits of 6,735 BTC (worth over $616 million) and 64,706 ETH (approximately $119 million), representing some of the largest on-chain movements from BlackRock this month.