BlackRock Moves Rp1.9 Trillion in Bitcoin and Ethereum Assets to Coinbase

JAKARTA - BlackRock is reported to have moved Bitcoin and Ethereum assets worth more than 120 million US dollars or around Rp1.9 trillion to Coinbase.

This move to transfer assets then triggered speculation about continued selling pressure amid massive outflows of funds from crypto ETFs in the United States.

Based on on-chain data released by Arkham Intelligence and Lookonchain on January 2, BlackRock transferred 1,134 Bitcoin worth approximately 101 million US dollars as well as 7,255 Ethereum worth approximately 22 million US dollars to Coinbase Prime.

However, Tokocrypto sees no negative signals from this. Glassnode data shows that long-term Bitcoin holders have started to stop selling their assets, indicating resilience in the face of market pressure.

In terms of price, the crypto market is still showing mixed movement. Bitcoin even perched at $91,184, up around 0.85-1.04 percent in the last 24 hours.

"The volume of Ethereum trading also increased by 7.12 percent indicating that market activity is still high," wrote Tokocrypto in its official blog quoted Sunday, December 4.

Until now, BlackRock has not given an official statement regarding the reasons behind the transfer of the assets.

However, this uncertainty makes market participants remain vigilant, considering that every step of the world's largest asset manager is often an important signal for the direction of the crypto market in the future.