Key Takeaways
- BlackRock deposited $115 million in Ethereum into Coinbase on November 5.
- The deposit is part of BlackRock’s broader strategy to use Coinbase Prime as a custodian for its crypto initiatives, including ETF operations.
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BlackRock, the global asset management giant, deposited $115 million in Ethereum into Coinbase Prime today, according to on-chain data.
Coinbase serves as a key cryptocurrency platform and primary custodian for institutional digital asset activities, including trading and liquidity management for major asset managers entering the crypto space.
The latest transfers come as BlackRock’s Ethereum ETF (ETHA) notched its fourth consecutive day of redemptions, with $111 million exiting the fund yesterday.
