BlackRock Moves $286M in BTC, ETH to Coinbase Prime

BlackRock, a financial services giant, has transferred $286 million in Bitcoin and Ether to Coinbase Prime. According to on-chain data tracked by Arkham Intelligence, BlackRock deposited approximately 54,096 ETH valued at around $132 million and 2,015 BTC worth nearly $154 million. This significant transaction is related 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. This means it handles tasks such as buying, selling, settlement, and redemptions, all in accordance with BlackRock's regulatory filings with the SEC.

This is not an isolated incident; on-chain monitoring services have observed a recurring pattern of large transfers between BlackRock-linked wallets and Coinbase Prime. Previous deposits have ranged from tens to hundreds of millions of dollars in value, with one notable transfer in December 2025 involving around 2,019 BTC and 29,928 ETH worth approximately $273M at the time.