Important points
- BlackRock today deposited $478.5 million in Bitcoin and $195 million in Ether into Coinbase.
- These deposits are part of BlackRock’s institutional crypto strategy through ETF products.
BlackRock today deposited approximately 4,653 Bitcoins worth $478.5 million and 57,455 Ethereum worth $195 million into Coinbase. The leading asset management company is actively depositing crypto assets on exchanges through ETF products as part of its institutional crypto strategy.
BlackRock has made multiple similar Bitcoin and Ethereum deposits to Coinbase Prime in recent weeks. The company’s iShares Ethereum Trust recorded five consecutive days of outflows, while its iShares Bitcoin Trust recorded four days of outflows during the same period.
Coinbase is a leading cryptocurrency exchange that provides key services for institutional asset transfer and custody, and serves as a key partner for BlackRock’s cryptocurrency business. The exchange enables seamless remittance for institutional customers managing large-scale cryptocurrency movements.
