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BlackRock's Ethereum Spot ETF Withdraws 11,185 ETH from Coinbase Prime

BlackRock's withdrawal of over $17 million in ETH and BTC from Coinbase Prime reflects heightened institutional engagement in the cryptocurrency market.

BTC
ETH

Summary

On June 25, BlackRock's Ethereum spot ETF withdrew 11,185 ETH and 12.675 BTC from Coinbase Prime, totaling approximately $17.7 million. This activity signifies the increasing participation of institutional investors in the cryptocurrency sector, particularly in Ethereum and Bitcoin.

Terms & Concepts
  • Ethereum Spot ETF: An exchange-traded fund that directly tracks the price of Ethereum, allowing investors to gain exposure to the cryptocurrency without holding it directly.
  • Coinbase Prime: A platform by Coinbase designed for institutional investors, offering advanced trading features and secure custody for digital assets.
  • ETH: The native cryptocurrency of the Ethereum blockchain, used for transactions and smart contracts.