Address Labeled as Coinbase Prime Hot Wallet Moves 45.77 Million POL

A wallet labeled as Coinbase Prime’s hot wallet transferred 45.77 million Polygon (POL) to an address labeled as a 21Shares Polygon exchange-traded product wallet on Oct. 27. The Ethereum transaction was recorded at 6:29 a.m. EDT (10:29 UTC) and valued at an estimated $4.08 million. The 21Shares product, ticker POLY, is physically backed by POL. BitGo and Coinbase Custody Trust Company are listed as its custodians. The transfer record shows tokens moving between addresses. The address labels do not establish whether 21Shares bought the tokens or whether they were staked or otherwise deployed.