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Bitcoin News Update: BlackRock Allocates $115M in ETH, Driving Australian ETF Debut During Market Fluctuations

Bitcoin News Update: BlackRock Allocates $115M in ETH, Driving Australian ETF Debut During Market Fluctuations

Bitget-RWA2025/11/05 12:14
By:Bitget-RWA

- BlackRock deposited $115M in ETH to Coinbase , signaling institutional crypto engagement ahead of its Australian Bitcoin ETF launch. - The firm holds 86% of its $97B crypto assets in Bitcoin, with recent $1B+ deposits raising market sell-off concerns. - Regulatory clarity in Australia and the U.S. may boost institutional adoption as BlackRock's custodial strategy focuses on ETF liquidity management.

BlackRock, recognized as the largest asset management firm globally, has transferred 34,777 ETH—worth about $115 million—into

, based on data from . This transaction follows a series of ongoing Bitcoin and Ethereum transfers to Coinbase Prime, highlighting sustained institutional activity in the cryptocurrency sector. BlackRock has consistently relied on Coinbase as its main custodian for digital asset operations, which include its iShares Bitcoin and Ethereum ETFs as well as asset tokenization projects, according to .

This latest deposit comes during a period of heightened market turbulence, with both Bitcoin and Ethereum experiencing declines of more than 4% in the 24 hours before the transfer, as reported by

. Experts suggest these movements could be related to custodial adjustments or positioning for short-term market strategies, especially since recently revealed plans to introduce its iShares Bitcoin ETF (IBIT) on the Australian Securities Exchange (ASX) in mid-November. If launched, Australia would become the fourth nation to offer a spot Bitcoin ETF, joining the U.S., Germany, and Switzerland.

Bitcoin News Update: BlackRock Allocates $115M in ETH, Driving Australian ETF Debut During Market Fluctuations image 0

According to Finbold, BlackRock's digital asset portfolio is still predominantly composed of Bitcoin, which makes up 86% of its $97 billion in crypto holdings, with Ethereum representing the remaining 14%. Over the past five days, the company has moved more than $1 billion in BTC and ETH to Coinbase Prime, including a $383.9 million Bitcoin transaction and a $122 million Ethereum deposit on October 31, as detailed by TradingView. These sizable transfers have sparked concerns among traders about possible large-scale liquidations, although BlackRock has not yet carried out any major sales.

Market observers are paying close attention to BlackRock's activities, as its decisions could sway overall market sentiment. The recent influx of deposits has coincided with a significant market downturn, with the total crypto market capitalization shrinking by around $230 billion in under a day, according to Finbold. Liquidations of leveraged futures reached $1.27 billion, and the Fear & Greed Index dropped sharply to 27, signaling intense bearishness.

BlackRock appears to be focusing its custodial approach on liquidity optimization and ETF management. Its iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA) currently manage $85 billion and $14 billion in assets, respectively, as reported by

. Since March 2024, the firm has withdrawn a total of $17.95 billion in crypto assets to exchanges, with Coinbase accounting for $17.6 billion of that sum.

Although BlackRock's precise objectives remain uncertain, its repeated deposits underscore its expanding influence within institutional crypto markets. Regulatory bodies in both the U.S. and Australia have recently advanced efforts to establish formal guidelines for crypto investments, with ASIC's latest move to classify digital assets as financial products potentially paving the way for greater institutional participation as regulatory frameworks become clearer.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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