Important points
- BlackRock has transferred Bitcoin and Ethereum to Coinbase Prime.
- The company's IBIT and ETHA ETFs continue to see net investor outflows.
BlackRock deposited about $200 million in Bitcoin and $29 million in Ethereum into Coinbase Prime on Wednesday, according to data from Arkham Intelligence.
The move coincides with a period of uneven demand for BlackRock's Bitcoin and Ethereum ETFs, with outflows outpacing inflows in recent weeks.
BlackRock's flagship Bitcoin ETF (IBIT) recorded approximately $157 million in net redemptions yesterday, and the firm's Ethereum ETF (ETHA) saw an additional $25 million in withdrawals, according to Pharcyde Investors.
The IBIT Fund continues to lead the Bitcoin investment product market. The Wall Street giant has highlighted Bitcoin as one of its key investment themes for 2025, along with Treasury bills and major tech stocks.
