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BlackRock Withdraws $296M in Bitcoin from Coinbase, Bringing Total Withdrawals to $1.83B

BlackRock's Bitcoin transactions highlight significant institutional activity, with a net inflow of 20,953 BTC since February 23, according to Onchain Lens.

BTC

Summary

Onchain Lens reports that BlackRock has withdrawn 4,172 BTC ($296 million) from Coinbase in the past 8 hours. Since February 23, total withdrawals from BlackRock reached 26,735 BTC ($1.83 billion), with net inflows of 20,953 BTC ($1.48 billion), indicating continued institutional interest in Bitcoin.

Terms & Concepts
  • Bitcoin withdrawal: The act of transferring Bitcoin from a custodial platform like Coinbase to a private wallet or another exchange.
  • Net inflow: The difference between the total amount of cryptocurrency deposited and withdrawn, indicating the overall movement of funds into or out of a platform.