Asset management giant BlackRock deposited 3,290 Bitcoin worth about $303 million and 5,692 Ethereum valued at approximately $18 million into Coinbase Prime today. BlackRock’s Bitcoin ETF (IBIT) saw nearly $71 million in outflows yesterday, marking four consecutive days of withdrawals, while its Ethereum ETF experienced around $80 million in redemptions.
The move highlights ongoing institutional activity and the role of Coinbase Prime as a custody and prime services venue for large asset managers. Despite the ETF outflows, the underlying cash and crypto positions indicate continued interest from major institutions in Bitcoin and Ethereum exposure. Market participants will be watching whether these deposits foreshadow broader demand or reflect sector-wide reallocations.
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