BlackRock moves $286 million in Bitcoin and Ether to Coinbase Prime

BlackRock transferred approximately 54,096 ETH and 2,015 BTC to Coinbase Prime, according to on-chain data tracked by Arkham Intelligence. The deposit, representing a substantial volume of digital assets, is tied to the operational management of BlackRock’s iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA). Coinbase Prime serves as the primary custodian and execution agent for BlackRock’s crypto ETFs. That means it handles everything from buying and selling to settlement and redemptions, all as outlined in BlackRock’s regulatory filings with the SEC. On-chain monitoring services, including both Arkham Intelligence and Lookonchain, have tracked a recurring pattern of large transfers between BlackRock-linked wallets and Coinbase Prime. Historical deposits have ranged from tens of millions to hundreds of millions of dollars in value. One notable transfer in December 2025 involved around 2,019 BTC and 29,928 ETH, worth approximately $273M at the time. The latest transfer of 54,096 ETH and 2,015 BTC fits neatly within this operational cadence. The two-way street Data from mid-September 2026 shows the asset manager pulling approximately 656.71 BTC and 5,150 ETH from Coinbase...