cryptobriefing.com
02 February 2026 16:42, UTC
BlackRock moved over $670 million in Bitcoin and Ethereum to Coinbase Prime on Monday, according to Arkham Intelligence data.
Specifically, the asset management giant deposited 6,918 Bitcoin worth approximately $539 million and 58,327 Ethereum valued at about $133 million into the institutional trading and custody platform.
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The movements are tied to operational requirements for BlackRock’s spot Bitcoin ETF (IBIT) and Ethereum ETF, which involve creation and redemption processes requiring direct custody arrangements.
Large-scale asset transfers do not automatically signal an intent to sell. Still, BlackRock’s move warrants close monitoring as markets remain under pressure following a sharp weekend sell-off that pushed Bitcoin below $75,000.
BlackRock’s IBIT recorded $528 million in net outflows last Friday, its largest single-day redemption since launch, while total outflows across all US-listed spot Bitcoin ETFs reached $1.5 billion for the week, per Farside Investors.
