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BlackRock Deposits $200M in Bitcoin and $29M in Ethereum to Custody Platform
Source: CryptoNewsNet Original Title: BlackRock deposits $200M in Bitcoin and $29M in Ethereum to Coinbase Prime Original Link:
Market Movement
BlackRock transferred approximately $200 million in Bitcoin and $29 million in Ethereum to a major custody platform on Wednesday, according to blockchain analysis data.
The transfers coincide with a period of uneven demand for BlackRock’s Bitcoin and Ethereum ETFs, where outflows have outweighed inflows in recent weeks.
ETF Performance
BlackRock’s flagship Bitcoin ETF (IBIT) posted around $157 million in net redemptions yesterday, and its Ethereum ETF (ETHA) saw an additional $25 million withdrawn, per market data sources.
The IBIT fund still leads the market for Bitcoin investment products. The Wall Street giant has highlighted Bitcoin as one of its leading investment themes for 2025, alongside T-bills and major tech stocks.