An address linked to BlackRock withdrew $146.3 million in cryptocurrency from the Coinbase exchange. Blockchain analytics identified the transaction, which included 1,475 Bitcoin and 3,878 Ethereum.
Market analysts view the substantial withdrawal as a bullish signal for the digital asset market.
The movement suggests a long-term holding strategy rather than an intent for immediate sale. Such large-scale transfers off exchanges indicate increased institutional conviction in the asset class.
Following the news, Bitcoin’s price showed slight upward momentum.