Blackrock moves $140 million in Ethereum to Coinbase as ETH slips 6%
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BlackRock has transferred 47,500 Ethereum worth $140 million to Coinbase Prime. BlackRock Ethereum ETHA (ETHA) experienced fluctuating flows and net losses amid market fluctuations.
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BlackRock transferred 47,500 Ethereum worth around $140 million to Coinbase Prime, according to data from Arkham Intelligence.
Ethereum was trading at $2,954 at press time, down more than 6% in the last 24 hours, per CoinGecko. The market-wide digital asset fell below $3,000 on Monday, which saw bitcoin sink below $86,000.
BlackRock's latest ETH deposit follows weeks of choppy flows in BlackRock Ethereum ETHA (ETHA). Data from Farside Investors shows that the fund recorded net inflows of $139 million yesterday, accounting for the majority of the $225 million inflows from US Ethereum ETFs.
As of December 12, ETHA holds 3.7 million Ethereum worth more than $11 billion. The BlackRock fund follows Tom Lee's BitMin Immersion, which increased its holdings to nearly 4 million ETH last week.
