TREE NEWS reports: BlackRock withdrew about $126.95 million in crypto from Coinbase Prime over 40 minutes. The transfers comprised 1,150 BTC worth roughly $95.43 million and 11,840 ETH worth about $31.52 million. The withdrawal was reported on September 29.
BlackRock Withdraws $127M in BTC and ETH from Coinbase Prime
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AI take
The size and speed of the move matter less than the direction: a single large redemption from a prime brokerage venue is routine custody or liquidity management, not a signal about BlackRock's crypto thesis. What it does show is how concentrated institutional crypto flows remain around a handful of venues and issuers, so a transfer of this scale can read as sentiment even when it is operational. Whether similar withdrawals continue, or are offset by inflows, is the open question.
Generated by AI for reference only.
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