Crypto
BlackRock Transfers $286M in BTC & ETH to Coinbase Prime
BlackRock has transferred $286 million in Bitcoin and Ether to Coinbase Prime. This move is part of managing its iShares Bitcoin Trust and iShares Ethereum Trust ETFs.
Coinbase Prime serves as the custodian and execution agent for these crypto ETFs, handling buying, selling, and settlements. The large transfer is a routine operational activity that reflects investor buying and redemption flows, rather than a market bet.
This highlights the ongoing management of crypto assets behind BlackRock's ETF offerings. In related news, 44 out of 50 major cryptocurrencies on Pluang rose in value, while five fell. Notable gainers include SUSHI, EOS, and KSM, all with notable price increases.