BlackRock has once again transferred a large amount of Bitcoin to Coinbase, drawing market attention to its future moves. On-chain monitoring platform Lookonchain reports that the transfer occurred on June 2nd and amounted to nearly $425 million.
Transferred Scale
According to data from Lookonchain, BlackRock transferred a total of 6,164 BTC this time. The transaction was completed in approximately 13 separate transactions, with most individual transactions around 300 BTC.
Market Focus
Foreign media speculate that such inflows are usually related to subsequent selling. The report also noted that BlackRock has not seen any new purchases in the past month.
ETF outflows continue
Bitcoin ETFs have seen net outflows for the past three weeks. Data cited in the report indicates that outflows have exceeded $2.4 billion in the past month, marking the longest period of continuous outflows since the product's inception.
