BlackRock deposits 26.273 ETH and 226,677 BTC into Coinbase Prime

BlackRock transferred 26.273 ETH, worth approximately $59.89 million, to the Coinbase Prime address via the Ethereum ETF fund ETHA. At the same time, the firm also deposited 226,677 BTC, equivalent to $17.54 million, through the Bitcoin ETF fund IBIT.

Arkham recorded these transactions about three hours ago, as of May 1st. It is not yet clear what the purpose of these transfers is.

ETH was transferred into Coinbase Prime in a significantly larger volume compared to BTC at the same time. The current data does not indicate whether this is buy or sell flow, only confirming asset deposits through the two ETFs.

Coinbase Prime is a platform commonly used for institutional-related transactions. However, there are no additional details about how these assets will be handled after being deposited.

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