Grayscale Transferred $57.65 Million in Bitcoin to Coinbase Prime

IconCrypto News Terminal24 Apr, 2024

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Grayscale Transferred $57.65 Million in Bitcoin to Coinbase Prime

### Grayscale Moves $57.65M Worth of BTC to Coinbase Prime Grayscale, the world's largest digital currency asset manager, has transferred 873.553 Bitcoin (BTC) worth approximately $57.65 million to Coinbase Prime, a leading cryptocurrency custody and trading platform. According to data from blockchain analytics firm Arkham Intelligence, the transaction occurred about 10 minutes ago. In addition to the transfer to Coinbase Prime, Grayscale also sent 1500 BTC (roughly $99 million) to two new addresses, further suggesting that the company is actively managing its cryptocurrency portfolio. ### Market Implications The transfer of such a significant amount of BTC by Grayscale has sent ripples through the cryptocurrency market. It could indicate that Grayscale is adjusting its investment strategy or preparing for a potential market downturn. ### Previously on 24 April 2024: > Grayscale labeled address transferred 873.553 BTC ($57.65 million) to Coinbase Prime.

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