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Olamid12348
$BTC BlackRock deposited another 1,883 coins to the exchange, worth $143 million
BlackRock deposited 1,883 BTC to Coinbase Prime through IBIT, valued at $143 million, equivalent to $75,942 per coin.
What do we make of this news? Here's the conclusion first: this is not good news, but don't be scared.
Why is it not good news? BlackRock depositing coins into Coinbase Prime is part of the ETF redemption process. Depositing means shares are being redeemed, which means someone is selling the ETF.
