BlackRock, the global investment management firm, moved about 3,064 Bitcoin, valued at roughly $276 million, along with 26,723 Ethereum worth more than $83 million, to Coinbase Prime today. The transfers total roughly $359 million and underscore continued institutional engagement with Coinbase Prime’s services.
Coinbase Prime has become a preferred venue for large crypto positions as institutions seek custody, security, and efficient execution. BlackRock’s move to Coinbase Prime demonstrates ongoing demand for prime broker services in the crypto market.
Such moves contribute to liquidity and may influence sentiment around institutional crypto exposure. As the sector matures, more asset managers are expected to translate appetite for Bitcoin and Ethereum into prime brokerage transactions.
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