BlackRock deposited $181 million in Bitcoin and Ether on Coinbase today as crypto markets experienced a downturn. According to Arkham Intel, 612 BTC, valued at around $41 million, and 68,567 Ethereum, worth approximately $140 million, were transferred from a wallet managed by the asset manager.
The deposit occurred as Bitcoin's price dropped below $68,000 to $66,300 and Ether's price fell to $1,982. Total market capitalization decreased by 3% to $2.4 trillion over 24 hours.
Regarding BlackRock’s crypto ETFs, the iShares Bitcoin Trust (IBIT) saw $117 million in outflows in the last three days but gained $161 million in inflows on Monday, resulting in net inflows of $44 million for the week. Cumulative net inflows into IBIT since its launch in January 2024 have surpassed $63 billion.
In contrast, BlackRock’s iShares Ethereum Trust (ETHA) faced $214 million in withdrawals this week, whereas the recently launched iShares Staked Ethereum Trust (ETHB) continues to attract consistent inflows, offering annualized staking rewards.