BlackRock ETF wallets moved $355.63M in BTC and ETH to Coinbase Prime in the past 2 hours.
Macro & Markets ·
BlackRock ETF wallets deposited roughly $355.63 million worth of digital assets to Coinbase Prime over a two-hour window. The transfers comprised 3,215 BTC valued at $262.41 million and 38,882 ETH valued at $93.22 million, moving through multiple blockchain addresses.
The movement of such a substantial sum to a regulated custody platform is consistent with institutional asset management operations, though the timing and specific trigger for the deposit remain unexplained. Coinbase Prime serves as a qualified custodian for institutional clients managing crypto holdings.
It is unclear whether this action signals a shift in BlackRock's broader strategy or asset positioning, or whether it reflects routine operational flows tied to ETF rebalancing, redemptions, or custody adjustments.