Key takeaways
- BlackRock deposited 1,271 Bitcoin worth about $135 million on Coinbase.
- The transfer is part of BlackRock’s ongoing institutional cryptocurrency portfolio management.
BlackRock, a major asset manager that actively manages institutional cryptocurrency holdings through spot bitcoin ETFs, today deposited 1,271 Bitcoin worth nearly $135 million on Coinbase. The move to Coinbase, a leading cryptocurrency exchange that facilitates large-scale institutional deposits, comes amid broader market uncertainty.
BlackRock has made repeated transfers of Bitcoin and Ethereum to Coinbase Prime as part of deliberate portfolio management strategies.
Those deposits came amid growing optimism following reports of a possible end to the 40-day US government shutdown. On Sunday, the Senate approved a bipartisan funding deal that could allow federal agencies to fully reopen once the measure is approved by the House of Representatives and signed into law by President Donald Trump.
