BlackRock transferred 45.24K ETH (~$104.76M) from its ETHA and ETHB ETF wallets to Coinbase Prime.
Macro & Markets ·
BlackRock transferred 45.24K ETH (approximately $104.76M) from its ETHA and ETHB exchange-traded fund wallets to Coinbase Prime, according to on-chain tracking data. The movement involved a router address facilitating the transfer between the fund custody accounts and the major cryptocurrency exchange's institutional services platform.
The transfer raises questions about BlackRock's near-term positioning in Ethereum holdings across its spot ETF products. Moves to Coinbase Prime typically precede liquidation or reallocation, though the exact intent remains unclear—whether the transfer signals preparation for redemptions, portfolio rebalancing, or other strategic purposes.
No official statement from BlackRock accompanied the on-chain activity, and the precise timing or scale of any potential sale has not been disclosed. The market impact and whether additional tranches may follow remain unknown.