A transfer of 1,049 Bitcoin, worth approximately $81.5 million, was made from Binance to Coinbase Institutional. This move follows a sustained trend this summer, with several massive transfers to Coinbase’s institutional custody platform over the past two months. In total, over 4,000 Bitcoin, representing more than $275 million, have moved from Binance to Coinbase Institutional in just a few weeks. Coinbase Institutional is a custody platform designed for institutional investors, including hedge funds, asset managers, and family offices, and has positioned itself as the custody partner for US Bitcoin ETF issuers. The regularity of these transfers, rather than opportunistic, suggests a methodical accumulation strategy by institutional actors.
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