CRYPTOCURRENCY: BlackRock has deposited 5,100 BTC worth $441.88M and 30,280 ETH worth $71.85M in a series of transactions into Coinbase Prime. The transactions have sparked liquidation concerns among investors and crypto traders.
BlackRock’s Bitcoin investment firm iShares Bitcoin Trust ETF (IBIT) has transferred Bitcoin and Ethereum in bulk to Coinbase Prime.
The transactions are part of a worrying trend that has been going on for some time. Onchain activity shows the Fund has previously executed similar transactions leading to outflows from the ETF.