BlackRock Deposits 1,134 BTC and 7,255 ETH Into Coinbase

BlackRock Deploys $123.5M in BTC and ETH to Coinbase

BlackRock has deposited 1,134 BTC and 7,255 ETH into Coinbase, according to on-chain data from Onchain Lens. The total value of these assets is approximately $123.5 million according to on-chain data. This marks another instance of the asset management giant moving crypto assets to the exchange.

The transfers occurred amid ongoing outflows from BlackRock's spot ETFs, reinforcing the perception of increased selling pressure. In particular, the firm's Bitcoin ETF (IBIT) recorded daily net outflows of $192.61 million, while the Ethereum ETF (ETHA) noted $22.12 million in withdrawals.

These movements coincide with broader market activity, including the expiry of $27 billion in crypto options, a typical time of heightened volatility.

Why the Move Happened

BlackRock has not publicly explained the reason behind the transfers, but market observers often interpret such on-chain activity as preparation for sales. The timing of the deposits—just before a major options expiry—has led analysts to speculate about short-term liquidity or risk management motives according to market analysis.

The firm's consistent movement of Bitcoin and Ethereum to Coinbase over recent months suggests a strategic approach to managing its digital asset portfolio according to industry reports. However, the absence of a formal explanation leaves room for interpretation.

How Markets Reacted

BlackRock's actions have contributed to a broader sense of caution in the market. Bitcoin and Ethereum both saw price fluctuations around the time of the transfers.

Crypto ETPs have experienced significant outflows in the fourth quarter of 2025, with cumulative redemptions reaching $3.2 billion according to market data. This trend reflects investor uncertainty, especially as Bitcoin and Ethereum-linked funds bore the brunt of the redemptions according to analysts.

Not all crypto products, however, saw outflows. Solana and XRP ETPs recorded inflows of $70.2 million and $7.5 million, respectively, highlighting divergent investor behavior across the digital asset spectrum.

What Analysts Are Watching

Analysts warn that while large institutional transfers do not always precede a selloff, they often signal liquidity events or risk management shifts according to market intelligence.

The market is particularly sensitive to BlackRock's movements due to the firm's size and influence in the crypto space according to industry observers. Institutional watchers are monitoring how these transfers might affect Bitcoin and Ethereum prices, especially during periods of heightened volatility such as options expiries according to market analysis.

Market participants are also watching for any official statement from BlackRock to clarify the strategic intent behind the recent deposits. Until then, the transfers remain a key signal for traders and investors according to market reports.