BlackRock deposits $212M in BTC to Coinbase

BlackRock, the world's largest asset manager and a spot Bitcoin ETF issuer, deposited 3,625 BTC ($212.43 million) and 20,598 ETH ($32.39 million) to Coinbase, Onchain Lens reported. The on-chain analysis firm added that further deposits are possible. This transaction brings BlackRock's total deposits to Coinbase over the past three days to 15,442 BTC ($918.5 million). Such deposits to exchanges are typically interpreted as part of the operational process for the firm's spot crypto ETF, such as settling redemptions arising from fund outflows.