BlackRock Deposits 3,496 BTC ($384M) into Coinbase Prime, Signaling a Major Bitcoin Move

According to LookIntoChain monitoring, BlackRock reportedly transferred 3,496 BTC (approximately $384 million) and 31,754 ETH (approximately $122 million) into Coinbase Prime about three hours before this notice. The move, captured by the monitoring service, underscores active engagement by a premier institutional actor in the crypto custody landscape.

Industry observers interpret the transaction as evidence of rising institutional demand for regulated, enterprise-grade crypto infrastructure. Coinbase Prime offers custody and prime brokerage services for large-cap digital assets, potentially enabling streamlined settlement, enhanced security, and auditable liquidity management in a volatile market.

Although motive and timing remain topics of discussion, the reported deposit highlights continued diversification of holdings by leading institutions and reinforces the role of credible custodial partners in strengthening crypto market resilience and stakeholder confidence.