💥 BREAKING
BlackRock has deposited an additional 3,402 BTC (worth approximately $234.3 million) and 30,216 ETH (around $60.83 million) to Coinbase, according to on-chain data.
Large transfers from institutional wallets to centralized exchanges often draw attention because they can signal preparation for liquidity events, portfolio rebalancing, or potential selling activity. However, such movements don’t always result in immediate market sales. Institutions like BlackRock may move assets for custody management, ETF-related operations, or internal allocation adjustments.
Still, transfers of this scale tend to influence short-term market sentiment, as traders closely monitor exchange inflows for clues about supply pressure. Whether this leads to actual selling or remains a strategic transfer, it highlights the growing role of institutional players in shaping crypto market dynamics.