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BlackRock transfers 1.224 BTC and 11.475 ETH to Coinbase
BlackRock has transferred 1.224 BTC and 11.475 ETH to a Coinbase address, with a total value of approximately $124.43 million. On-chain data indicates there may be additional transfer rounds.
The transaction was recorded on May 8th, according to Onchain Lens. The amount of BTC is equivalent to about $98.16 million, and the ETH is valued at approximately $26.27 million.
It is currently unclear what the purpose of these transfers is. The available data only shows that the assets have been moved to a Coinbase address, with no further details about selling or restructuring.
On-chain information suggests that the asset transfer activity may not have concluded yet. However, there are no other confirmations besides the transaction data recorded on the blockchain.
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