BlackRock Moves More Than $170 Million in Bitcoin and Ethereum to Coinbase Prime

The transfer involved 861 Bitcoin worth about $69.59 million and 44,691 Ethereum worth roughly $103.15 million, according to the provided update.

Summary

BlackRock transferred more than $170 million in crypto assets to Coinbase Prime, a digital asset brokerage and custody platform for institutions. The move included 861 Bitcoin valued at about $69.59 million and 44,691 Ethereum valued at roughly $103.15 million. Based on the provided information, the update identifies the asset amounts, estimated values, and destination platform, but does not state the reason for the transfer.

Terms & Concepts
  • Coinbase Prime: An institutional crypto platform offering trading, custody, and financing services for large investors.
  • Custody: The safeguarding and management of digital assets on behalf of investors or institutions.
  • Bitcoin: A decentralized digital asset that operates on a blockchain (shared transaction ledger).