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Guavy AI Editorial Team••Sentiment: 1•Clout: 65

BlackRock Moves $260M in Bitcoin to Coinbase Amid ETF Redemption Activity

BTCcoinbase

BlackRock, the world's largest asset manager, deposited approximately $260 million in Bitcoin into Coinbase Prime over the past 24 hours.

The transfer is linked to the firm's spot Bitcoin exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), which experienced a net outflow of $300.4 million on the previous trading day.

This routine operational flow is part of the standard lifecycle of ETF share transactions, not a speculative trade by BlackRock.

The deposit underscores the growing integration of traditional finance infrastructure with digital asset markets and highlights the importance of distinguishing between speculative exchange deposits and operational fund flows for crypto investors.