$806m Bitcoin transfer registered … institutional flow?

Noting this item on financial sites (here’s a link, there are others also)

  • data point extracted from the Bitcoin blockchain
  • $806 million worth of the cryptocurrency apparently transferred earlier in the day off of the Coinbase exchange’s institution-focused unit, Coinbase Pro
  • 14,666 BTC were moved off the exchange during the early U.S. hours in a small number of transactions.
  • outflow was split into multiple wallets
BTC update:
Noting this item on financial sites (here's a link, there are others also)