BlackRock moves $356 million of Bitcoin and Ether to Coinbase Prime
On October 23, 2026 BlackRock’s spot‑ETF wallets transferred 3,215 BTC (about $262.4 million) and 38,882 ETH (about $93.2 million) to Coinbase Prime. The total $355.6 million move was recorded within two hours and matches the size of Bitcoin outflows from BlackRock’s iShares Bitcoin Trust on October 22. Analysts note the transfer likely settles redemptions that already occurred and does not necessarily signal fresh selling pressure.
Why it matters
The transfer reflects redemption activity in BlackRock’s crypto ETFs, which could influence investor sentiment toward spot Bitcoin ETFs. If investors interpret the on‑chain move as new selling, it may pressure BTC and ETH prices, but the company’s explanation suggests the assets were already accounted for in the reported outflows.
Key facts
- 1BlackRock’s spot‑ETF wallets moved 3,215 BTC valued at $262.4 million to Coinbase Prime on October 23, 2026. 247wallst.com
- 2The same wallets transferred 38,882 ETH worth $93.2 million to Coinbase Prime on the same day. 247wallst.com
- 3The combined transfer amounted to about $355.6 million within two hours. 247wallst.com
- 4The Bitcoin transfer size closely matches the $254.1 million outflow from BlackRock’s iShares Bitcoin Trust on October 22, 2026. 247wallst.com
- 5Tokenpost reported the total transfer as $356 million in Bitcoin and Ether over two hours. tokenpost.com
Open questions
- The purpose of the transfers is described as unclear in the second material.
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.