BlackRock moved over $120 million in Bitcoin and Ethereum to Coinbase Prime, with the transfer involving 1,134 Bitcoins and 7,255 Ethereum coins. BlackRock’s IBIT leads all Bitcoin funds, controlling 770,791 BTC worth roughly $67.4 billion.
The transfers come during a period of massive outflows from crypto exchange-traded products, including BlackRock’s own offerings. This transfer underscores ongoing institutional custody demand and liquidity shifts within crypto markets, reflecting a trending preference for centralized prime services as liquidity dynamics evolve.
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