A significant asset deposit was made by asset manager BlackRock directly into Coinbase Prime, valued at $465 million. The information was revealed by the on-chain monitoring service Lookonchain, which added that the transfer included 4,880 BTC and 54,730 ETH and was carried out over several days, intensifying attention on institutional movements in the crypto sector.
This transaction is interpreted as a sign of larger strategic moves, going beyond simple ETF rebalancing. Analysts suggest that BlackRock could be preparing a capital reallocation in the face of strong volatility, which generated immediate sell signals in the market. Bitcoin, trading at $81,915, has already fallen more than 10% in the last 24 hours.
The impact of this mega deposit from BlackRock to Coinbase could influence market dynamics and long-term regulatory approaches, as large asset allocations often precede significant oscillations. The market remains alert for clarity regarding the exact motivations, as neither BlackRock nor Coinbase Prime have issued public comments on the transactions so far.
Source: https://x.com/lookonchain/status/1991833001123324053
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