BlackRock deposits over $114 million worth of Bitcoin and Ethereum into Coinbase.

According to blockchain data monitoring platform Onchain Lens, global asset management giant BlackRock recently completed a large-scale cryptocurrency transfer, depositing a total of 1,044 Bitcoins (worth approximately $91.9 million) and 7,557 Ethereums (worth approximately $22.41 million) into the Coinbase exchange.

This transaction involves assets exceeding $114 million, once again drawing market attention to the movements of institutional funds.

Some analysts suggest that this deposit may only be part of BlackRock's overall cryptocurrency strategy. Monitoring data shows that the relevant addresses remain active, and more tokens are expected to be transferred to exchanges in the future.

This move may be related to BlackRock's recent structural adjustments in the digital asset sector, liquidity management, or the operational needs of its Bitcoin Spot ETF (IBIT).

As a heavyweight player in the traditional financial sector, BlackRock has been actively investing in the cryptocurrency market in recent years, and its Bitcoin Spot ETF has attracted significant inflows since its approval.

This direct transfer of large sums of Bitcoin and Ethereum to exchanges may indicate that institutional capital is further promoting the allocation and circulation of digital currencies, and also provides a new perspective for observing market liquidity.

As the compliance process accelerates, actions by institutions like BlackRock are often seen as signals of increased acceptance of crypto assets by traditional capital, and each of their actions can have a profound impact on market sentiment and funding structures. (Source: PANews)