BlackRock Move to Coinbase and $27B Options Expiry Raise Sell-Off Risk
On Dec. 26, 2025, the world’s largest asset manager signaled a potential market reshuffle after moving its Bitcoin and Ethereum positions onto the Coinbase exchange just as over $27 billion in crypto options expired. That combination coincided with a fresh downleg in prices today, prompting traders to warn that concentrated on-exchange flows could amplify selling pressure if larger holders unwind positions.
Why it matters: transfers of sizable institutional holdings to centralized venues can change immediate liquidity dynamics and order-book depth, while large options expiries often force rebalancing or stop-loss cascades that increase intraday volatility. Market participants should watch volume, spreads and custody activity closely — positions could be repriced quickly if liquidity providers step back or if options-driven hedges are executed.