According to on-chain data monitored by Onchain Lens, on January 8, BlackRock, the global asset management giant, transferred 2164 Bitcoin (BTC) worth approximately $195.12 million and 22,902 Ethereum (ETH) valued at around $71.43 million to the cryptocurrency exchange Coinbase. Industry analysts suggest this movement could signal BlackRock’s growing interest and strategic positioning in the digital asset space.
On-Chain Data Reveals Institutional Investor Behavior
This substantial transfer has drawn significant attention, primarily due to the large volume of assets and the involvement of a major financial institution. On-chain activity suggests there may be further transfers, indicating BlackRock is actively adjusting its asset allocations.
- BlackRock transferred 2164 BTC, worth approximately $195 million
- 22,902 ETH were also transferred, valued at around $71.43 million
- The transactions may reflect growing institutional confidence in the crypto market