Important points
- BlackRock deposited $115 million in Ethereum into Coinbase on November 5th.
- The deposit is part of BlackRock’s broader strategy to use Coinbase Prime as a custodian for its cryptocurrency initiatives, including ETF operations.
Global asset management giant BlackRock today deposited $115 million in Ethereum into Coinbase Prime, according to on-chain data.
Coinbase serves as the primary custodian for institutional digital asset activities such as trading and liquidity management for leading cryptocurrency platforms and major asset management companies entering the cryptocurrency space.
The latest transfers came as BlackRock’s Ethereum ETF (ETHA) recorded its fourth straight day of redemptions, with $111 million leaving the fund yesterday.
