BlackRock ETF wallets accumulated $312M in Bitcoin and Ethereum from Coinbase Prime over 10 hours.
Macro & Markets ·
BlackRock-linked exchange-traded fund wallets purchased approximately 3.62 thousand bitcoin and 12.53 thousand ether from Coinbase Prime during a 10-hour window, representing roughly $282 million and $30.6 million in value respectively, for a combined accumulation of about $312 million. The purchases were tracked through on-chain monitoring tools, which record wallet activity associated with the asset manager.
The timing and concentration of the transfers—occurring over just ten hours through a single prime brokerage channel—suggests a coordinated acquisition rather than routine trading activity. Coinbase Prime serves as a custodial and trading platform for institutional clients, making it a common venue for large fund inflows or rebalancing operations.
What remains unclear is whether these purchases reflect new capital deployment, rebalancing of existing holdings, or consolidation of positions across wallet addresses. No statement from BlackRock accompanied the on-chain activity, and the specific ETF products involved have not been identified in available reporting.