Blockchain tracking shows wallets associated with BlackRock's cryptocurrency exchange-traded funds transferred roughly $702 million in digital assets to Coinbase Prime in the past hour. The movement involved 7,244 bitcoin worth $558.62 million and 63,598 ether worth $143.63 million.
Coinbase Prime serves as the custodian and primary execution platform for BlackRock's iShares Bitcoin Trust and ether trust. Such transfers can relate to share creations, redemptions, or routine custody operations, but the specific purpose of this transaction has not been confirmed. Market watchers are monitoring daily ETF flow data for clarity on whether the activity reflects redemptions or standard fund management.
Read the full story on BSC News: BlackRock ETF Wallets Move $702 Million in Bitcoin and Ether to Coinbase Prime
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