Grayscale and BlackRock Move Major Bitcoin and Ethereum Holdings on Coinbase Prime

On Oct. 24, Grayscale transferred $138 million in BTC and ETH, while BlackRock withdrew nearly $98 million from Coinbase Prime, highlighting significant institutional asset movements.

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Summary

On Oct. 24, Grayscale deposited 525 BTC valued at $57.22 million and 21,030 ETH worth $80.84 million to Coinbase Prime. On the same day, BlackRock withdrew 681 BTC worth $74.72 million and 6,000 ETH valued at $22.91 million from the platform, marking substantial digital asset movements by two major institutional players.

Terms & Concepts
  • Coinbase Prime: A platform by Coinbase tailored for institutional investors, offering advanced trading, custody, and prime brokerage services for digital assets.
  • BTC: The ticker symbol for Bitcoin, the first and largest cryptocurrency by market capitalization.
  • ETH: The ticker symbol for Ethereum, a leading blockchain platform known for smart contracts and decentralized applications.