BlackRock Sends $217M in Bitcoin and Ethereum to Coinbase Prime

TLDR

• BlackRock transferred 3,410 BTC and 5,132 ETH to Coinbase Prime.
• The combined value of the transfers reached approximately $217 million.
• Bitcoin transfers accounted for about $209.64 million of the total value.
• Ethereum transfers were valued at approximately $8.43 million.
• Lookonchain tracked the transactions across multiple blockchain transfers.

BlackRock transferred another $217 million worth of Bitcoin and Ethereum to Coinbase Prime on June 25. The transactions followed continued ETF outflows across both products and renewed attention on the asset manager’s blockchain activity. Lookonchain tracked the transfers, while BlackRock did not disclose the purpose behind the deposits.

BlackRock Moves Bitcoin and Ethereum to Coinbase Prime

Lookonchain reported that BlackRock deposited 3,410 BTC and 5,132 ETH to Coinbase Prime through several transactions. The transfers carried an estimated value of $209.64 million in Bitcoin and $8.43 million in Ethereum. The movement occurred on Thursday, June 25.

Blockchain data showed about seven transfers during the operation. Nearly every Bitcoin transaction moved 300 BTC to Coinbase Prime. One separate transaction carried the Ethereum holdings to the same platform.

Market participants linked the transfers with recent ETF withdrawals because similar activity appeared during previous outflow sessions. However, BlackRock did not issue a statement explaining the latest deposits. The company also provided no public update regarding the destination of the transferred assets.

Exchange deposits often attract attention because they can precede trading activity. However, blockchain transfers alone do not confirm that an asset manager has sold any holdings. The available on-chain data only confirms the movement between wallets.

Bitcoin and Ethereum Transfers Follow ETF Withdrawals

The latest deposits arrived while both Bitcoin and Ethereum exchange-traded funds continued recording withdrawals. BlackRock has transferred digital assets to Coinbase Prime during earlier outflow periods. Those previous transactions also prompted market discussion about possible sales.

Some traders interpreted the latest deposits as preparation for another disposal of holdings. Others pointed out that Coinbase Prime supports institutional custody and settlement services. Therefore, wallet transfers alone cannot establish whether any sale occurred.

BlackRock has not confirmed any direct sale connected to the June 25 transfers. The company also has not addressed market speculation surrounding the transactions. As a result, only the blockchain records remain publicly available.

Lookonchain’s published wallet activity showed that the combined transfers reached about $217 million. Bitcoin represented most of the transferred value, while Ethereum accounted for a smaller portion. The deposits reached Coinbase Prime through multiple wallet movements.

Previous blockchain records showed similar transfer patterns during sessions with ETF redemptions. Those observations have contributed to continued discussion whenever BlackRock moves assets to Coinbase Prime. Still, no public filing connected the latest transfers to completed market sales.

The recorded transfers included 3,410 BTC and 5,132 ETH. Based on prices during execution, the combined value reached approximately $217 million. BlackRock has not released any further information regarding the June 25 wallet activity.

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