Ethereum News Today: Fidelity BlackRock Move $717M Crypto to Coinbase in Structured Transfers

Fidelity and BlackRock have collectively moved over $717 million in cryptocurrency to Coinbase, according to data from Arkham Intelligence. A Fidelity-linked wallet transferred 14,978 ETH to Coinbase in two distinct transactions—10,000 ETH and 4,978 ETH—valued at $35.77 million and $17.8 million, respectively. The ETH appears to have been moved from a custodial address labeled “Fidelity Custody” before being sent to the exchange, indicating a structured movement of assets [1].

In a related development, BlackRock moved a total of $664 million in Bitcoin and Ethereum to Coinbase Prime. The firm’s Bitcoin ETF, IBIT, transferred 2,544 BTC ($292 million) in multiple batches of 300 BTC each. Concurrently, BlackRock’s Ethereum ETF, ETHA, deposited 101,975 ETH ($372 million) to the exchange, with the transfers executed in several 10,000 ETH increments. These actions reflect a coordinated institutional approach to liquidity positioning on a centralized exchange [2].

The combined transfers by Fidelity and BlackRock suggest a potential rebalancing of assets or the positioning of funds ahead of larger market movements. Such activity is typical in institutional crypto trading, where large-volume movements are executed to optimize liquidity, manage risk, or align with broader fund strategies. The timing and structure of the transfers—particularly the use of custodial addresses and the systematic execution of multiple batches—underscore the strategic nature of the moves.

The broader market context indicates a period of cautious positioning among institutional players. Recent data from CryptoQuant highlighted rising sell-side liquidity and a declining liquidity inventory ratio, pointing to short-term hesitation. The ETF outflows observed in late July also contributed to a downward price trend in Bitcoin, suggesting that institutional decisions can significantly impact crypto market dynamics [3].

These movements by Fidelity and BlackRock highlight the increasing role of institutional players in shaping the crypto ecosystem. As major asset managers continue to integrate digital assets into their portfolios, their actions are likely to influence both market sentiment and liquidity structures.

Source: [1] Fidelity and BlackRock Move Over $717M in Crypto to Coinbase (https://coinmarketcap.com/community/articles/68926c10e7f37614190600af/)