Grayscale Transfers 866 BTC to Coinbase Prime

IconCryptoNewsTerminal Staff02 Aug, 2024

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Grayscale Transfers 866 BTC to Coinbase Prime

Grayscale Investments, the world's largest digital currency asset manager, has moved 866 Bitcoin (BTC) worth approximately $56.56 million to Coinbase Prime, a custody and trading platform for institutional investors. According to Arkham Intelligence, the transaction occurred 20 minutes ago. Grayscale's move comes amid heightened scrutiny of its Bitcoin holdings and the overall crypto market. This transfer follows Grayscale's recent announcement that it would not convert its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin exchange-traded fund (ETF), citing regulatory concerns.