๐บ๐ธ BlackRock Moves ~$300M in BTC & ETH to C0in๐ ฑ๏ธase Amid ETF Redemptions
BlackRock has transferred nearly $300 million worth of Bitcoin and Ethereum to Coinbase Prime โ about 2,400 BTC (~$217M) and 24,760 ETH (~$77M) โ according to on-chain data from Crypto Rover and Onchain Lens.
โก๏ธ Whatโs behind it? These transfers are tied to ETF redemptions, where BlackRock must deliver underlying crypto to satisfy investors selling their spot Bitcoin and Ethereum ETF shares. Itโs part of the normal ETF lifecycle when holders redeem shares, not necessarily a firm-wide sell decision itself.
๐ Market reaction: The move has added downward pressure on crypto prices in the short term, compounding volatility already present after ETF outflows and macro uncertainty.
๐ง Analyst view: Some see this as a routine liquidity and custody adjustment for ETF operations rather than strategic liquidation โ especially amid choppy ETF flows in early 2026.
