BlackRock Moves Record $446M in Bitcoin to Coinbase Prime BlackRock has transferred 7,432 $BTC, worth approximately $446 million, to Coinbase Prime in a single transaction, representing the l
BlackRock has transferred 7,432 $BTC, worth approximately $446 million, to Coinbase Prime in a single transaction, representing the largest single-day net outflow of Bitcoin from the firm's identified sovereign-scale wallets since the inception of its digital asset treasury. The firm also moved 8,150 $ETH, valued at roughly $13 million, in the same operation.
Crypto Briefing confirmed the transfers, noting they are tied to BlackRock's iShares Bitcoin Trust (IBIT) and its Ethereum counterpart, ETHA. The move comes as part of a pattern of large on-chain flows that have become a recurring feature of how the world's largest asset manager manages its crypto ETF infrastructure.
According to iShares Bitcoin Trust ETF filings, BlackRock designates Coinbase Custody Trust Company as the Bitcoin custodian and Coinbase Inc. as the Prime Execution Agent, covering Bitcoin buying, selling, and transaction processing for the fund. That structural relationship means transfers of this kind are part of the normal operational machinery behind ETF share creation, redemption, and settlement flows, rather than a directional market bet.
Crypto Briefing noted that Coinbase Prime is the institutional platform BlackRock uses for custody and execution, and that a deposit of this size does not automatically indicate open-market selling. The default interpretation, absent a pattern of redemptions consistently outpacing creations, remains operational maintenance.
The June 29 movement is the largest in a series of notable transfers. Previous batches included 4,577 $BTC and 41,996 $ETH worth approximately $336 million, and another of 3,580 $BTC and 15,095 $ETH worth roughly $250 million, according to data tracked by on-chain analytics firms including Arkham Intelligence and Lookonchain.
Sources:Crypto Briefing: BlackRock deposits 7,432 Bitcoin and 8,150 Ethereum into CoinbaseNFT Plazas: BlackRock Bitcoin ETF Moves $226M in BTC to Coinbase PrimeCrypto Adventure: BlackRock Bitcoin ETF Wallets Move $226M In BTC To Coinbase Prime
