Just-In: BlackRock Breaks Acccumulation Streak, Moves $429M In Bitcoin To Coinbase Prime

BlackRock has broken its streak of steady Bitcoin accumulation after it deposited 4,113 BTC on Coinbase Prime. The outflow is stoking fears of a massive selloff, sending the largest cryptocurrency prices tumbling below $105K. BlackRock Transfers 4,113 Bitcoin To Coinbase Prime According to on-chain data shared on X by Lookonchain, BlackRock has moved a significant amount of Bitcoin to a centralized exchange. Per the data, BlackRock transferred 4,113 Bitcoin valued at $429M to Coinbase Prime in multiple transactions. The assets come from its IBIT ETF with a month-long streak of heavy Bitcoin accumulation. The asset transfers to Coinbase Prime are fuelling speculation of a potential sell-off by BlackRock among investors. However, a closer look reveals key insights into the transfers to Coinbase Prime. For starters, Coinbase Prime is the custodial partner of BlackRock’s IBIT ETF, with the transfer hinting at a routine move. The fund movement may be part of… Read More at Coingape.com

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