BlackRock withdrew $62M in BTC and ETH from Coinbase Prime in a single transaction.
Macro & Markets ·
BlackRock moved 656.71 BTC and 5.15K ETH from Coinbase Prime in a single transaction, representing approximately $49.79 million and $12.28 million respectively for a combined total of $62 million. The withdrawal was identified through on-chain tracking via arkm.com.
The movement involved both Bitcoin and Ethereum transferred out of the institutional custody venue Coinbase Prime. The timing and size of the transaction—combining roughly $50 million in BTC with $12 million in ETH—suggest a deliberate reallocation of holdings, though the destination address and purpose remain unspecified.
Whether this represents accumulation ahead of anticipated price moves, rebalancing between assets, or transfer to alternative custody remains unclear. The data captures only the withdrawal event itself, not BlackRock's broader positioning or future intentions in these assets.