According to data from Arkham Intelligence, BlackRock transferred 2,196 Bitcoins valued at more than $200 million to Coinbase Prime earlier today. This transaction reflects BlackRock’s continuous efforts to adjust its holdings in response to demand within its cryptocurrency investment products.
Yesterday, BlackRock’s Bitcoin ETF (IBIT) experienced net outflows totaling approximately $135 million, making it the sole fund among its peers to see withdrawals. Nevertheless, IBIT remains the leading spot Bitcoin ETF by a significant margin, having accumulated over $60 billion in net inflows since its inception.
The overall US spot Bitcoin ETF market turned positive yesterday, largely driven by substantial capital inflows into Fidelity’s FBTC fund.