Bitcoin Updates: BlackRock Increases Crypto Holdings as Fraud Scandals Challenge Investor Confidence

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Bitcoin Updates: BlackRock Increases Crypto Holdings as Fraud Scandals Challenge Investor Confidence

Bitget-RWA2025/10/31 12:00

By:Bitget-RWA

- BlackRock deposits $225M BTC/ETH into Coinbase Prime, signaling institutional crypto confidence amid strategic rebalancing. - Coinbase's Q3 revenue jumps 55% to $1.9B, driven by stablecoin growth and Deribit acquisition as it expands institutional services. - BlackRock's $500M fraud triggers $490M ETF outflows, casting doubt on crypto initiatives despite asset accumulation plans. - Coinbase CEO emphasizes stablecoin payments' role, while critics question BlackRock's political ties amid regulatory scrutin

BlackRock Inc. recently transferred $225 million in

Bitcoin

and Ether to Coinbase's institutional service,

Coinbase

Prime, reflecting a resurgence of institutional trust in the crypto sector as digital asset strategies evolve, according to

ValueTheMarkets

. This transaction, which involved 3,495 BTC and 31,754 ETH, is in line with Coinbase’s ongoing push to become an “Everything Exchange,” combining custody, derivatives, and stablecoin services to expand its influence in the crypto industry, as detailed in a

PYMNTS report

Coinbase’s financial report for the third quarter highlighted its strategic shift, showing a 55% year-over-year revenue increase to $1.9 billion and a 34.3% jump in subscription income from stablecoins, reaching $746.7 million, according to

TradingView

USDC

, a stablecoin jointly developed with Circle, achieved a record $74 billion in market capitalization, with Coinbase overseeing $15 billion in average balances. The company also broadened its derivatives portfolio by acquiring Deribit for $3 billion, making it a key part of its institutional approach, as noted by PYMNTS.

Bitcoin Updates: BlackRock Increases Crypto Holdings as Fraud Scandals Challenge Investor Confidence image 0

During the third quarter, the company increased its Bitcoin reserves by 2,772 BTC, valued at $299 million, as part of a long-term accumulation strategy, according to

TradingView

. This follows BlackRock’s own crypto investments, such as its $225 million deposit, which is part of a wider trend of institutional portfolio adjustments. However, BlackRock’s recent challenges—including a $500 million fraud discovered in its HPS private credit arm—have cast doubt on its crypto ventures. The fraud, related to telecom financing, led to $490 million in withdrawals from its Bitcoin ETFs, with $291 million coming from the IBIT fund, as reported by

BeInCrypto

Brian Armstrong, CEO of Coinbase, has stressed the increasing role of stablecoins in payment systems, an area the exchange is targeting with APIs and integrated wallets, according to PYMNTS. On the other hand, some critics claim BlackRock’s crypto moves may be politically motivated, but Coinbase’s chief policy officer has dismissed these allegations as “ridiculous,” pointing to bipartisan industry PAC donations and standard inaugural contributions, as covered by

TradingView

The ongoing interaction between institutional interest and regulatory oversight continues to influence the market. While Coinbase’s third-quarter earnings surpassed analyst expectations, the fraud at BlackRock has heightened demands for stricter regulation in private credit and crypto-related assets. For individual investors, these events underscore both the opportunities and risks present in the fast-changing digital asset space.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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