BlackRock Moves Over 4,100 BTC To Coinbase Prime Amid ETF Adjustments
The post BlackRock Moves Over 4,100 BTC To Coinbase Prime Amid ETF Adjustments appeared on BitcoinEthereumNews.com.
IBIT moved 4,113 BTC to Coinbase Prime, marking its first large transfer in over a month. Ten structured BTC transfers totaled over $313M, signaling internal ETF rebalancing activity. Coinbase Prime use highlights BlackRock’s commitment to regulated ETF custodial standards. BlackRock’s iShares Bitcoin Trust (IBIT) made a notable on-chain transfer Sunday, moving 4,113 BTC, valued at approximately $429.4 million, to Coinbase Prime. The activity marks the first large-scale Bitcoin movement from the fund in over a month and reflects operational maneuvers possibly tied to ETF issuance, redemptions, or custodial reallocation. The transfers come amid rising ETF activity and increased institutional engagement with digital assets. On-chain data revealed that the majority of the recent BTC outflows were executed in a uniform manner, with multiple individual transfers of 300 BTC each. These transactions, valued at roughly $31.32 million apiece, were completed in a span of just two hours. A single exception to this pattern was a transaction of 212.687 BTC, worth approximately $22.21 million. All transactions were directed from wallets associated with IBIT to designated Coinbase Prime Deposit addresses. The rapid and structured nature of these transfers indicates internal coordination, likely in preparation for share issuance or redemption events. The use of Coinbase Prime, a regulated custodian, further suggests that the activity is aligned with compliance standards required for ETF asset handling. Earlier Transactions Resurface in On-Chain Records Two prior transactions, dating back over a month, were also visible in the latest on-chain data. One involved the movement of 106.473 BTC, while another sent 1,190 BTC, valued at over $112 million, to a Coinbase Pro hot wallet. These earlier transfers appear separate from the current batch but may represent previous rebalancing efforts or liquidity events linked to fund operations. Unlike the most recent coordinated group of transfers, these older movements were isolated and…
