BlackRock transferred ~1,698 BTC ($135.6M) from its IBIT ETF to Coinbase Prime, signaling a potential sell.
Macro & Markets ·
BlackRock moved approximately 1,698 BTC valued near $135.59 million from wallets associated with its IBIT Bitcoin ETF to Coinbase Prime, according to on-chain monitoring. The transfer employed router address 36YZXcTVLPdyapYuqXdJEt46oMVB2NrzVv.
Transfers from spot Bitcoin ETF custodial wallets to exchange deposit addresses are typically interpreted as preparation for asset sales, though the movement alone does not confirm execution or timing. This volume would represent a meaningful outflow from IBIT's holdings if executed.
Whether the transfer has been completed, the precise sale price, and whether additional tranches may follow remain unconfirmed from available data.