BlackRock Deposits $918.5M in BTC and ETH to Coinbase

BlackRock moves $918.5M in BTC and ETH to Coinbase over three days, signaling continued institutional accumulation despite broader market volatility.

Woofun AI data shows that BlackRock transferred an additional 3,625 BTC and 20,598 ETH to Coinbase, bringing the total Bitcoin deposits to $918.5 million within a three-day period.

Meanwhile, Michael Saylor stated that digital credit facilities enabled Strategy to acquire 175,000 BTC this year during bearish market conditions. In other developments, Circle co-founder argued that consortium stablecoins face significant hurdles due to network effects, while ARK Invest executive warned that OpenUSD might replicate past collaborative failures. Citigroup lowered its 12-month Bitcoin price target from $112,000 to $82,000, and a whale opened a 20x leveraged long position on 800 BTC valued at $47 million.