Ethereum News Today: BlackRock Moves $372M ETH $292M BTC Amid Crypto ETF Outflows

BlackRock moved 101,975 Ethereum (ETH), valued at approximately $372 million, to Coinbase Prime, a custodial platform operated by the U.S.-based cryptocurrency exchange, according to blockchain analytics firm Lookonchain [1]. The large transfer, along with a concurrent $292 million Bitcoin (BTC) movement involving 2,544 BTC, has sparked speculation about potential adjustments to the firm’s ETF portfolio amid ongoing outflows from its crypto-focused funds. These transactions, identified as being deposited into Coinbase Prime, are seen as linked to structural changes in BlackRock’s Ethereum ETF offerings rather than direct market sales [2].

Following the Ethereum transfer, the asset experienced a 1.81% price decline, falling from $3,734.98 to $3,570.33 [3]. Analysts attribute this drop to broader institutional outflows and market concerns over potential liquidation of large positions. The movement has drawn attention due to its size and timing, especially as BlackRock’s Ethereum-based ETF (ETHA) reported outflows, suggesting a possible shift in the firm’s strategy or a response to market dynamics [4]. Additionally, BlackRock’s Bitcoin ETF (IBIT) saw outflows of $292 million during the same period, further reinforcing the pattern of asset repositioning.

The use of Coinbase Prime in these transactions underscores the platform’s role in institutional custody and settlement of digital assets, particularly those tied to ETFs. Given this context, experts believe the Ethereum movement may be part of a broader ETF asset reshuffling rather than a signal of bearish sentiment from the firm. This aligns with recent regulatory developments, including the SEC’s approval of in-kind redemptions for both Bitcoin and Ethereum ETFs, which may allow BlackRock to optimize its settlement mechanisms [5].

Despite the recent price volatility, BlackRock had been steadily increasing its Ethereum holdings in previous months, accumulating roughly $11.4 billion worth of ETH by the end of July. The firm’s continued involvement in Ethereum suggests a long-term strategic position in the asset class, even as it adjusts its portfolio in response to market conditions and investor behavior [6].

The coordinated transfers of both Bitcoin and Ethereum to Coinbase also highlight the exchange’s growing significance in institutional crypto operations. Having partnered with BlackRock on multiple ETF initiatives, Coinbase has positioned itself as a key player in the custody and execution of large-scale institutional crypto transactions. The movement further reinforces the platform’s influence on market sentiment and its role in facilitating ETF-related activity [7].

While no official statement has been issued by BlackRock, the timing and scale of the transactions suggest a strategic, rather than random, response to market developments. If the firm proceeds with selling the transferred assets, it could potentially add downward pressure on Ethereum’s price, particularly if the sales are executed at a significant pace. However, the actual market impact will depend on a range of factors, including broader economic conditions, regulatory shifts, and investor demand [8].

Source:

[1] Coingape – [https://coingape.com/blackrock-moves-292m-btc-372m-eth-amid-crypto-etf-outflows/](https://coingape.com/blackrock-moves-292m-btc-372m-eth-amid-crypto-etf-outflows/)

[2] MoneyCheck – [https://moneycheck.com/blackrock-transfers-664m-in-btc-and-eth-to-coinbase-amid-crypto-etf-outflows/](https://moneycheck.com/blackrock-transfers-664m-in-btc-and-eth-to-coinbase-amid-crypto-etf-outflows/)

[3] Lookonchain – [https://blockchain.news/flashnews/lookonchain](https://blockchain.news/flashnews/lookonchain)

[7] Binance – [https://www.binance.com/en/square/post/27907490956457](https://www.binance.com/en/square/post/27907490956457)