BlackRock deposits $187M in BTC to Coinbase Prime

Onchain Lens reported, citing Arkham data, that BlackRock transferred 2,990 BTC, worth $187.3 million, to Coinbase Prime about an hour ago. The deposit is likely part of the operational process for its spot Bitcoin ETF, possibly to settle redemptions following fund outflows. This follows approximately $185.5 million in outflows from BlackRock's IBIT on July 13.