BlackRock Reduces Bitcoin and Ethereum Holdings, Moves $2.38B to Coinbase
BlackRock’s $391 million Bitcoin transfer to Coinbase Prime reinforces its ongoing large-scale crypto asset reallocation and integration into traditional financial operations.
BTC
ETH
Summary
BlackRock has deposited 4,471 BTC, valued at about $391 million, into Coinbase Prime, marking another substantial addition to its November cryptocurrency transfers. These include earlier movements of 4,198 BTC worth $348 million and 43,237 ETH valued at $117 million, along with prior deposits of 12,097 BTC worth $1.11 billion and 172,049 ETH worth $533 million. In total, BlackRock’s November transfers to Coinbase Prime amount to approximately $2.38 billion, indicating sustained large-scale rebalancing of its crypto holdings.
Terms & Concepts
- BTC (Bitcoin): A decentralized digital currency operating without a central bank or single administrator.
- ETH (Ether): The native cryptocurrency of the Ethereum blockchain, used for transactions and smart contracts.
- Coinbase Prime: The institutional trading and custody platform of Coinbase, designed for high-volume and professional cryptocurrency investors.