BlackRock Moves $332M in BTC and ETH to Coinbase Prime — Market Watch

Published at 2026-02-05 16:17:08

On Feb. 5, on-chain tracker Lookonchain flagged a large transfer from BlackRock to Coinbase Prime: 3,900 BTC (about $275 million) and 27,197 ETH (roughly $56.7 million). Both assets landed on Coinbase’s institutional platform, which handles trading and custody for big clients, prompting immediate attention from traders and analysts.

Large moves to an exchange can presage selling but also reflect internal rebalancing, custody consolidation, or client flows tied to fund management. The short-term market impact hinges on whether those coins are placed into sell liquidity. Traders will be watching Coinbase order books, exchange flow metrics, and any statements from BlackRock or Coinbase for clarity. Absent confirmation, expect elevated volatility as the market parses intent and potential supply pressure.

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