#BlackRock deposited

3.296 #BTC ($254 million)

to #Coinbase Prime.

What Does This Mean?

1. Preparation for Redemption Request

- Typically, the deposit of BTC to Coinbase Prime by BlackRock is related to providing liquidity for #IBIT .

- If there are institutional investors who want to redeem IBIT shares, BlackRock needs to provide BTC for sale.

2. Potential Market Sale

- If this BTC is sold in the market, it could exert short-term pressure on Bitcoin prices.

- However, if it is only transferred for liquidity purposes #ETF (without being sold), the impact may be limited.