BlackRock transferred 1,587 BTC (valued at approximately $122.5 million) and 17,815 ETH (worth roughly $37.8 million) to its Coinbase Prime custody wallet today, according to blockchain data tracked by Arkham Intelligence. The combined transfer totaled approximately $160.3 million in digital assets.
The move coincides with reported institutional selling pressure on spot Bitcoin and Ethereum exchange-traded funds, suggesting BlackRock may be rebalancing positions or responding to outflows from its crypto investment products. The transfer to Coinbase Prime, a institutional-grade custody solution, indicates the assets remain under BlackRock's control rather than being liquidated on public markets.
The timing underscores ongoing institutional volatility in crypto markets, where large asset managers are actively managing exposure to Bitcoin and Ethereum amid macroeconomic uncertainty and shifting investor sentiment toward digital assets.