According to Onchain Lens, on January 21, BlackRock's ETF address deposited 635.16 BTC worth approximately $56.64 million and 30,827.68 ETH worth around $91.45 million to Coinbase within 20 minutes. The total value of these transactions reached $148 million, highlighting the ongoing interest of institutional investors in the cryptocurrency market.
This significant deposit has sparked widespread discussion among market observers. Analysts suggest it could be part of BlackRock's asset allocation adjustments for its ETF offerings. Although it remains uncertain whether more deposits will follow, the move undoubtedly boosts market confidence.
Importantly, this is yet another example of a traditional financial giant making substantial moves in the crypto space, indicating that cryptocurrencies are gaining increasing recognition in mainstream investment portfolios. With more institutional participation, the market may be entering a more stable growth phase.