BlackRock moves $182M in Bitcoin and $91M in Ethereum to Coinbase Prime
Key receivers
BlackRock transferred around $182 million in Bitcoin and $91 million in Ethereum to Coinbase Prime. The assets are deposited into the Coinbase Prime institutional safekeeping and trading platform.
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BlackRock sent 2,019 Bitcoin worth about $182 million and 29,928 Ethereum worth about $91 million to Coinbase Prime on Monday, according to blockchain data tracked by Arkham Intelligence.
Markets pay close attention to the firm's on-chain movements, which are often followed by heavy flows later in the day or in subsequent sessions.
BlackRock's Bitcoin ETF saw more than $240 million in net inflows last week, while its ethereum funds saw nearly $558 million in outflows without a single day of positive inflows, according to Farside Investors.
Crypto investment products lost $952 million in capital last week. The decline ended a four-week streak of inflows, mainly due to $555 million in outflows from Ethereum funds and $460 million in outflows from Bitcoin funds.
After plunging below $85,000 late last week, Bitcoin rebounded above $90,000 before today's US market open. The rebound boosted sentiment across the board, pushing the total crypto market up 1.5% to $3.1 trillion in 24 hours, according to CoinGecko.
