Key Takeaways
- BlackRock deposited nearly $314 million in Bitcoin (BTC) and $115 million in Ethereum (ETH) into Coinbase Prime.
- Coinbase Prime provides custody, trading, and brokerage services for large institutions in the crypto space.
BlackRock, the world’s largest asset manager, deposited approximately $314 million in Bitcoin and $115 million in Ethereum into Coinbase Prime within 24 hours. The institutional-grade platform provides custody, trading, and prime brokerage services for cryptocurrencies to major firms.
BlackRock has been frequently transferring Bitcoin and Ethereum to Coinbase Prime as part of ongoing portfolio management, reflecting the asset manager’s expanding cryptocurrency ETF offerings through institutional digital asset transfers.
BlackRock’s repeated use of Coinbase Prime for cryptocurrency deposits demonstrates broader institutional strategies in digital asset markets, with growing adoption of Bitcoin and Ethereum through asset management firms’ custody arrangements.
Source: https://cryptobriefing.com/blackrock-deposits-btc-eth-coinbase-prime-2024/
