According to recent blockchain monitoring data from Lookonchain, on February 2, global asset management giant BlackRock transferred a significant amount of crypto assets to Coinbase Prime within one hour.
The transactions included 6,918 Bitcoin (BTC), valued at approximately $538.6 million, and 58,327 Ether (ETH), worth around $133.6 million, totaling over $670 million in combined value.
This move is seen as a strong signal of institutional investors expanding their exposure to digital assets, highlighting the growing acceptance of cryptocurrencies among mainstream financial institutions.
- Single Bitcoin transfer worth $538 million
- Ethereum deposit valued at $133 million
- Both transfers completed within one hour
Market analysts suggest the move could be linked to BlackRock's broader digital asset strategy, potentially indicating increased institutional inflows into the crypto market.