BlackRock Deposits 1,701 Bitcoin Worth $124 Million to Coinbase, Onchain Lens Says
According to Onchain Lens, BlackRock saw a net inflow of 2,018 BTC worth about $150 million over the past nine hours after withdrawing 3,719 BTC from Coinbase and depositing 2,018 BTC back.
BTC
Fact Check
The core claim that BlackRock moved 1,701 BTC (worth ~$124M) is heavily corroborated by multiple crypto news outlets citing Onchain Lens. While there is some ambiguity in the 'content' text regarding whether the 1,701 BTC was a single deposit or a net result of multiple transactions (3,719 withdrawn vs 2,018 deposited), the 1,701 BTC figure and the involvement of Coinbase are consistent across all reports.
Summary
Onchain Lens reported that BlackRock recorded a net inflow of 2,018 BTC, valued at about $150 million, over the past nine hours. The tracker said BlackRock withdrew 3,719 BTC worth about $274 million from Coinbase and deposited 2,018 BTC worth about $125 million. This adds new transaction detail beyond the earlier reported 1,701 BTC deposit to Coinbase, although the source does not explain the purpose of the transfers or identify any related fund activity.
Terms & Concepts
- Bitcoin: A decentralized digital asset that operates on a public blockchain without a central issuer.
- Coinbase: A cryptocurrency exchange and custody platform where digital assets can be transferred, stored, or traded.
- Onchain Lens: A blockchain tracking service that monitors and reports wallet movements using publicly visible on-chain data.