On December 16, blockchain analytics firm The Data Nerd reported that BlackRock, the world's largest asset manager, made its first Bitcoin (BTC) deposit to cryptocurrency exchange Coinbase since early November. According to the firm, BlackRock deposited 828 BTC, worth approximately $79.57 million, to Coinbase in a single transaction. The deposit marks a renewed interest from BlackRock in the cryptocurrency market and follows reports that the firm has been exploring digital assets for some time. In 2021, BlackRock launched a private Bitcoin trust for institutional clients, and earlier this year, the firm partnered with Coinbase to offer cryptocurrency trading services to its clients. The latest deposit suggests that BlackRock is continuing to increase its exposure to Bitcoin, despite the recent market downturn. This is a positive sign for the cryptocurrency market, as it indicates that institutional investors are still interested in investing in digital assets.

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