Coinbase pushes down the XRP Stash 4X, how does BlackRock relate to this?

XRPWallets, an Analytics account that tracks XRP transactions and shares details about X social media platforms, has discovered a significant decline in XRP stashes held by Crypto Exchange Coinbase, the largest in the US.

The stash has been reduced by over 500 million coins. XRPWALLETS has revealed the top players that could explain this dramatic decline in XRP Holdings.

Coinbase reduces XRP stash

The aforementioned data sources published a list of top crypto exchanges and their XRP holdings earlier today. This list included platforms such as Binance, Upbit, Crypto.com, and Coinbase. This was a adjusted list compared to what was published on July 8th.

Almost two months ago, Coinbase held a total of 780.13 million XRP, taking fifth place, following Upbit (60.3 billion XRP), Binance (273.5 billion XRP), endorsement (190.7 billion XRP), and Bithumb (1.635 million XRP).

On the list published today, Coinbase has fallen to No. 10, and currently only holds XRP 199.473 million. XrpWallets is BlackRock, the world’s largest asset management company, revealing the trigger that caused this decline.

Probably the main reason – Black Rock

XrpWallets has announced the beginning of the Coinbase and BlackRock partnership, sharing a link to an article Coinbase published about a month ago.

The two giants have partnered and Coinbase has begun providing direct access to Crypto to clients of BlackRock’s platform Aladdin’s agency. It may have started in early August with Bitcoin alone and expanded to other ciphers, including XRP, which belongs to Ripple.

This could indicate the choice of XRP institutions to integrate this coin into mainstream finance via BlackRock’s Aladdin.