BlackRock Moves Over $120M in Bitcoin and Ethereum to Coinbase Prime
Key receivers
BlackRock has transferred over $120 million worth of Bitcoin and Ethereum to Coinbase Prime. 1,134 Bitcoins and 7,255 Ethereum coins were involved in the transaction.
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A BlackRock-branded wallet today sent 1,134 Bitcoin worth $101 million and 7,255 Ethereum worth roughly $22 million to Coinbase Prime, the institutional custody arm of the crypto exchange in Arkham.
The latest moves come amid a surge in outflows from crypto exchange-traded products, including BlackRock's own offerings.
According to data from Farside Investors, the U.S. spot Bitcoin ETF returned to outflows on Dec. 31, pouring in $348 million when markets close in 2025, while BlackRock's IBIT led the outflows with $99 million.
IBIT still dominates the Bitcoin ETF market, holding 770,791 BTC for a total value of about $67.4 billion.
