BlackRock Withdraws Massive Amounts of BTC and ETH Valued at Over $900 Million

BlackRock's Crypto Moves Spark Market Interest

According to the latest data from Onchain Lens, on January 16, 2024, BlackRock withdrew 6,647 BTC and 4,179 ETH from Coinbase within 8 hours. The total value of these transactions reached approximately $638 million for BTC and $13.76 million for ETH.

Notably, over the past two days, BlackRock's cumulative withdrawals have reached 9,346 BTC, equivalent to nearly $900 million in total value.

• Single BTC withdrawal: 6,647 BTC
• Single ETH withdrawal: 4,179 ETH
• Total value: Over $650 million

Although the reasons for these withdrawals remain unclear, this activity may signal a strategic shift in BlackRock's approach to crypto assets.