Grayscale and BlackRock Move Large Crypto Holdings to Coinbase Prime
Grayscale’s swift $121 million Bitcoin transfer to Coinbase Prime reflects ongoing high-value crypto movements among major institutional asset managers.
BTC
ETH
Summary
Grayscale transferred approximately 1,327.81 BTC, valued at about $121 million, to Coinbase Prime within six minutes on January 7, according to Arkham data. This follows previous substantial ETH and BTC transfers by Grayscale, including 26,361 ETH worth $84.3 million and 117.247 BTC valued at $10.23 million, as well as major transactions by BlackRock in December. These rapid, high-value movements highlight sustained institutional involvement in cryptocurrency markets.
Terms & Concepts
- Coinbase Prime: An institutional trading platform by Coinbase designed for large-volume cryptocurrency transactions.
- BTC: Bitcoin, the first and largest cryptocurrency by market capitalization.
- ETH: Ether, the native cryptocurrency of the Ethereum blockchain, used for transactions and smart contract operations.