BlackRock's IBIT Bitcoin ETF accumulated 7.32K BTC (~$478.5M) this week via Coinbase Prime withdrawals.
Macro & Markets ·
BlackRock's IBIT Bitcoin ETF added 7.32K BTC (approximately $478.5M) this week through a series of withdrawals from Coinbase Prime, with a single transaction moving 1.84K BTC (roughly $118.9M) on one day. The pattern reflects ongoing institutional accumulation activity as the spot Bitcoin ETF continues to receive inflows.
The withdrawals indicate the fund is sourcing Bitcoin through Coinbase Prime's institutional service, a common pathway for large ETF purchases. Each withdrawal represents actual movement of Bitcoin from the exchange to the fund's custody, translating client demand into on-chain settlement.
The specific mechanics of how much of this week's total inflow came from new capital versus rebalancing of existing positions remains unclear. The data also does not distinguish whether these were the only withdrawal sources used by the fund during the period.