BlackRock Withdraws Over $150M in Bitcoin and Ethereum from Coinbase

BlackRock's Large Crypto Withdrawal Sparks Interest

According to monitoring data from TheDataNerd, on February 24, global asset management giant BlackRock withdrew 2,086 Bitcoin (BTC) and 8,459 Ethereum (ETH) from major U.S. cryptocurrency exchange Coinbase, nine hours prior to the report.

Based on current market prices, the Bitcoin withdrawal was valued at approximately $135 million, while the Ethereum portion was worth around $15.84 million, bringing the total to over $150 million. This significant transaction has drawn widespread attention from the crypto community.

• Bitcoin withdrawal amount: 2,086 BTC
• Ethereum withdrawal amount: 8,459 ETH
• Total value: Approximately $150 million

While the exact purpose of the funds remains unclear, experts suggest this could relate to institutional fund transfers or portfolio rebalancing strategies, highlighting continued institutional engagement with digital assets.