BlackRock Moves 4,652.87 BTC to Coinbase in a $4.79B Bitcoin Transfer, Plus 57,455 ETH Worth $1.95B

COINOTAG News reports, citing Onchain Lens data dated November 6, that BlackRock executed sizable wallet transfers to Coinbase. The firm moved 4,652.87 BTC, totaling about $4.7851 billion, alongside 57,455 ETH valued around $1.9486 billion, highlighting a concrete instance of institutional asset relocation within the spot market.

This pattern underscores ongoing institutional crypto flows and reflects a strategic approach to custody and liquidity management. While the transactions are not a statement on price direction, they do indicate shifting allocations among premier digital assets and custody venues, aligning with larger governance and risk management practices in the ecosystem.

Market watchers should monitor subsequent activity across leading exchanges and custody wallets to gauge the persistence of institutional demand. The credibility of the data from Onchain Lens remains central to tracking such movements, with COINOTAG News continuing to provide credible coverage of headline crypto flows.

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