BlackRock transferred 5,847 BTC — worth approximately $449.5 million — alongside 26,269 ETH valued at roughly $55.4 million to Coinbase Prime in a single on-chain move. The combined deposit totals just over $504 million, making it one of the larger single-day custodial flows from an institutional asset manager on record.
Coinbase Prime is the institutional custody and brokerage arm used by most major ETF issuers to settle and hold spot crypto assets. Deposits of this scale typically precede or follow significant ETF creation activity — new shares being minted require the underlying BTC and ETH to be delivered to the custodian.
For BlackRock's IBIT and ETHA products, sustained inflows have been the dominant narrative through 2025. A deposit of this magnitude signals that institutional demand is not only holding but actively accelerating, with BlackRock continuing to move real assets at…
CoinTelegraph
CoinDesk
Glassnode
WuBlockchain