BlackRock deposited 2,822 Bitcoin (BTC) worth $243.59 million and 36,283 Ethereum (ETH) valued at $101.72 million to Coinbase Prime on Monday, November 24.
As of the time of writing, the world’s largest fund manager commands $77.4 billion in cryptocurrencies, of which some 87% are in Bitcoin and 13% in Ethereum, according to data retrieved by Finbold from Arkham.
BlackRock crypto moves. Source: Arkham
The timing of the transfers is notable given that the U.S.-listed spot Bitcoin ETFs are witnessing some of the heaviest monthly outflows since their debut.
Indeed, the funds have seen approximately $3.5 billion in withdrawals so far this month, the second-largest figure behind only the record $3.6 billion pulled in February this year.
BlackRock, which accounts for about 60% of all assets in the category, has alone recorded $2.5 billion in redemptions with the last recorded move.
Bitcoin and Ethereum on shaky ground
Both Bitcoin and Ethereum continue to face heavy sellin
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