BlackRock deposits $252M in BTC and ETH to Coinbase

BlackRock, the world's largest asset manager and a spot Bitcoin ETF issuer, has deposited 3,580 BTC ($227 million) and 15,095 ETH ($25.17 million) to Coinbase, Onchain Lens reported. The total value of the deposit is approximately $252 million. The transfer is believed to be part of the operational process for the firm's spot crypto ETFs, likely for settling redemptions amid fund inflows and outflows.