BlackRock withdrew 226.5 BTC from Coinbase Prime and deposited 3,923 ETH into its ETHA fund.
Macro & Markets ·
BlackRock moved approximately $21.8 million across major digital assets, withdrawing 226.5 BTC (valued near $14.4 million) from its Coinbase Prime wallet while simultaneously depositing 3,923 ETH (around $7.43 million) into its ETHA fund. The transactions reflect a rebalancing between the two assets, with Bitcoin outflows offset by Ethereum inflows to the fund.
The moves are trackable through BlackRock's entity profile, which documents on-chain activity. Such rebalancing transactions are routine portfolio management steps for institutional funds managing multiple crypto holdings.
The timing and precise triggers for this particular reallocation remain unclear, as do any broader strategic shifts in BlackRock's digital-asset positioning that the moves may signal.