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BlackRock just moved another huge batch of crypto to Coinbase Prime.
The firm deposited 5,847 $BTC worth roughly $449.5M alongside 26,269 $ETH worth about $55.4M.
As usual, transfers to Coinbase Prime tend to grab attention quickly, but it’s important to note that these movements don’t automatically mean selling. Large institutions like BlackRock frequently move assets between custodians, ETFs, liquidity providers, and trading desks for operational reasons.
Still, with more than half a billion dollars in BTC and ETH moved at once, the market will definitely be watching closely for any follow-up activity.