BlackRock has transferred $293.3 million worth of Bitcoin and Ethereum to Coinbase today

BlackRock has transferred a total of $293.3 million in BTC and ETH to the Coinbase Prime account ￰0￱ capital inflows included approximately $293.49 million in BTC and $79.83 million in ￰1￱ on blockchain data, the institution has recorded a series of deposits from its wallet address to the exchange since the beginning of the month. It’s still unclear why the transfers are being made, but speculation across the decentralized ecosystem has pointed to rebalancing custodial adjustments and a potential ￰2￱ asset manager has recorded inflows for four consecutive days since the beginning of the month, amid bullish momentum in the cryptocurrency ￰3￱ transfers over $1 billion to Coinbase Prime within five days BlackRock made a roughly $185 million transfer to Coinbase and Prime ￰4￱ asset manager deposited 1,198 BTC valued at approximately $129.09 million and 15,121 Ether, worth around $56.1 ￰5￱ the past five days, BlackRock has transferred more than $1 billion worth of BTC and Ethereum to Coinbase’s institutional custody platform, drawing attention across the crypto industry.) and the iShares Ethereum Trust (ETHA) manage roughly $100 ￰6￱ IBIT ETFs’ total assets under management stand at approximately $85 billion, while ETHA holds $14 ￰7￱ Ethereum’s share stands at 3.3% and BTC’s share is currently 4.01%