BlackRock Moves Over $120M in Bitcoin and Ethereum to Coinbase Prime

BlackRock’s institutional wallet transferred 1,134 Bitcoin and 7,255 Ethereum to Coinbase Prime, totaling around $120 million.

This move occurred as the firm’s Bitcoin and Ethereum ETFs, IBIT and ETHA, experienced outflows in recent weeks.

BlackRock’s IBIT, the largest Bitcoin ETF by assets under management, holds nearly 770,800 BTC, valued at around $67.4 billion.

Why Did This Happen?

BlackRock’s transfer aligns with broader outflows from crypto ETFs in early 2026. Bitcoin and Ethereum ETFs saw declining inflows in late 2025, with IBIT posting a net outflow of $192.61 million in one session.

The firm’s Ethereum ETF (ETHA) also recorded outflows of $22.12 million during the same period.

How Are ETFs Performing in 2025?

In 2025, spot Bitcoin ETFs accounted for 67% of nearly $32 billion in crypto ETF inflows, with BlackRock’s IBIT receiving the lion’s share.

BlackRock’s IBIT accumulated $24.7 billion in net inflows for the year, while other Bitcoin ETFs faced combined outflows of $3.1 billion. Ethereum ETFs added $9.6 billion in inflows in 2025, with BlackRock’s ETHA taking the lead.

What Are Analysts Watching Next?

The move highlights growing institutional activity in on-chain custody solutions like Coinbase Prime, a secure, institutional-grade platform.

Market watchers are monitoring whether the ETF outflows will persist or reverse amid potential regulatory shifts and investor sentiment.

BlackRock’s actions may also influence future demand for Ethereum and Bitcoin, as large transfers to custody can reduce circulating supply. Crypto ETF inflows declined sharply in December 2025, signaling caution ahead of 2026.

Analysts note that 2026 could bring more crypto ETF launches, potentially increasing competition and altering asset flows.