Grayscale transferred approximately 5,584 BTC to the Coinbase Prime address, worth approximately US$377 million

Arkham monitoring reported that Grayscale transferred over 5,584 BTC, worth approximately $377 million, to the Coinbase Prime address at around 22:20 Beijing time on March 5th. In addition, Grayscale also transferred 1,982 BTC (worth approximately $134 million) to three new addresses, suspected to be Grayscale's new custody addresses.