BlackRock's Major BTC and ETH Deposit to Coinbase Prime Sends Signals

BlackRock Makes Major Cryptocurrency Deposit to Coinbase Prime

New data from blockchain monitoring platform Lookonchain shows that BlackRock, the global asset management giant, recently transferred 3,970 Bitcoin (BTC) and 82,813 Ethereum (ETH) into a Coinbase Prime wallet address.

The total market value of this transfer exceeds $600 million, with the Bitcoin portion valued at approximately $356.7 million and the Ethereum portion around $247.1 million. This significant on-chain activity has sparked widespread attention within the crypto community, signaling ongoing institutional interest in digital assets.

Institutional Moves Stir Market Buzz

Against the backdrop of rising interest in crypto, BlackRock's deposit is being interpreted as a strong endorsement of the asset class by traditional finance.

• 3,970 BTC ≈ $356.7 million
• 82,813 ETH ≈ $247.1 million
• Total Value ≈ $603.8 million

This move highlights both Coinbase Prime's appeal as an institutional-grade platform and the increasing integration of crypto into mainstream finance.