BlackRock Transfers $10M in Crypto Holdings to Coinbase Prime

BlackRock, one of the world's largest asset managers, has moved approximately $10.07 million in digital assets from its exchange-traded fund (ETF) wallets.

According to on-chain data, 158.57 BTC (worth around $10.06 million) was sent to Coinbase Prime, while a smaller amount of Ethereum, 4.49 ETH (valued at roughly $8,500), was transferred to a BlackRock Coinbase Prime wallet.

The transactions appear to have originated from the asset manager's IBIT ETF and ETHB ETF wallets.

The on-chain activity does not provide insight into the purpose of these transfers, which could be routine custody operations or related to creations or redemptions in the funds.