BlackRock moves $482.66 million of Bitcoin and Ethereum to Coinbase
On November 9, BlackRock transferred 5,320 BTC and 40,720 ETH to Coinbase, valued at $482.66 million. The firm reported $79.6 billion in digital‑asset holdings as of September 30, 2026. In the same week, U.S. spot Bitcoin ETFs experienced $1.28 billion of net outflows, with BlackRock’s iShares Bitcoin Trust accounting for $1.21 billion. BlackRock also filed with the SEC for a Bitcoin Managed Protection ETF.
Why it matters
The in‑kind transfer signals growing demand for Bitcoin ETF conversions, which could increase pressure on Bitcoin prices and affect ETF liquidity. The large outflows from spot Bitcoin ETFs, especially from BlackRock’s IBIT, may shift investor capital toward institutional products.
Key facts
- 1BlackRock transferred 5,320 BTC and 40,720 ETH to Coinbase. en.bloomingbit.io
- 2The transfer was valued at $482.66 million, with the Bitcoin portion worth $396.49 million and the Ether portion worth $86.17 million. en.bloomingbit.io
- 3BlackRock reported $79.6 billion in digital‑asset holdings as of September 30, 2026. tradingview.com
- 4U.S. spot Bitcoin ETFs saw $1.28 billion in net outflows in November, of which $1.21 billion came from BlackRock’s iShares Bitcoin Trust (IBIT). coinedition.com
- 5BlackRock filed with the SEC for a Bitcoin Managed Protection ETF (PBIT). coinedition.com
- 6BlackRock’s digital‑assets head noted growing demand for in‑kind Bitcoin ETF conversions. tradingview.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.