BlackRock's ETHA Receives $240 Million Worth of ETH from Coinbase Prime

IconCryptoNewsTerminal Staff26 Jul, 2024

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BlackRock's ETHA Receives $240 Million Worth of ETH from Coinbase Prime

BlackRock's physical ETH ETF, ETHA, has received a significant influx of ETH from Coinbase Prime. According to scopescan, the ETF received a total of 76,600 ETH, worth approximately $240 million. This marks a notable increase in ETHA's holdings, which currently stand at around 2.4 billion USD. The move by Coinbase Prime to transfer such a substantial amount of ETH to ETHA highlights the growing interest in physical crypto ETFs and the increasing adoption of cryptocurrency as an asset class. It also reinforces the position of BlackRock as a major player in the digital asset space. Given BlackRock's vast reach and reputation in traditional finance, the continued growth of ETHA could further legitimize cryptocurrency investments and attract a new wave of investors to the market.

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