BlackRock’s Massive Crypto Move Sends Coinbase Shares Soaring

The cryptocurrency markets received a powerful vote of confidence this week as BlackRock, the world’s largest asset manager, made a substantial investment move through Coinbase’s institutional platform. Market observers watched as Coinbase shares surged approximately 6% following the revelation that Wall Street’s investment titan had allocated nearly $244 million to Coinbase Prime.

Blockchain analytics uncovered the specifics behind BlackRock’s strategic allocation: 49,608 Ethereum tokens valued at $206 million alongside 340.5 Bitcoin worth $38 million. Financial experts interpreted this substantial transaction as a strong endorsement of Coinbase’s institutional-grade infrastructure and security protocols.

This development arrives during a period of broader market strength. The total cryptocurrency market capitalization expanded by 2.5% to reach $3.86 trillion, with Bitcoin reclaiming the $113,000 threshold and Ethereum posting gains... Read more...