In a significant move, BlackRock deposited 567 BTC, valued at approximately $38 million, and withdrew 4,376 BTC, worth around $298 million, from Coinbase Prime in a 12-hour period, resulting in a net inflow of 3,810 BTC, equating to about $260 million. Coinbase Prime serves as the primary custodian for BlackRock’s spot Bitcoin ETF, managing the logistics of these deposits and withdrawals as part of the ETF’s share creation and redemption processes.
BlackRock deposits $38M in Bitcoin to Coinbase Prime
