Global asset management giant BlackRock purchased $245 million worth of Bitcoin and Ethereum via Coinbase Prime within 40 minutes, signaling a renewed wave of institutional demand.
On-chain data suggests that institutional activity in the crypto market is picking up again. According to Lookonchain, BlackRock received 1,884 BTC ($204.9M) and 10,585 ETH ($40.3M) within just 40 minutes. The transactions come as a strong signal that large investors are once again positioning aggressively in digital assets after months of caution.
These transfers occurred through Coinbase Prime, a platform tailored for professional and institutional traders. The use of Coinbase Prime reinforces the idea that these were not retail purchases, but part of a larger strategic investment allocation. Analysts say the move could mark the beginning of a new “institutional renaissance” in crypto markets. With interest rate cut expectations rising and ETF demand strengthening, institutional inflows are expected to accelerate in the final quarter of the year.
