BlackRock sends $382M in Bitcoin and $220M in Ethereum to Coinbase
Key receivers
BlackRock transferred $220 million in Ethereum and $382 million in Bitcoin to Coinbase Prime. Deposits feature institutional participation with major cryptocurrencies on the Coinbase escrow platform.
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BlackRock posted 74,973 Ethereum worth $220 million and 4,356 Bitcoin worth $382 million to Coinbase Prime today, according to data from blockchain intelligence firm Arkham Intelligence.
The moves come amid uneven outflows at BlackRock's digital asset fund. On Tuesday, the company's Bitcoin ETF recorded more than $210 million in net inflows, while its Ethereum ETF saw more than $220 million in net redemptions.
Still, daily ATF flows cannot capture the immediate trading behavior of underlying assets. Instead, the flows provide insight into share creation and redemption.
That means, authorized participants can choose to hold shares in inventory, wait for buyers, or redeem shares for Bitcoin at a later date. This means that inflows and outflows often lag the actual market movement, and short-term daily numbers may not accurately reflect investor sentiment or trading pressure.
