$16.216 Million in Assets Transferred from BlackRock ETF Wallet
Prefer us on Google$16.216 million worth of Bitcoin (BTC) 249.16 and Ethereum (ETH) 301.76 have been transferred from BlackRock's iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA) wallets to Coinbase Prime. The Bitcoin amount is valued at $15.65 million, while the Ethereum amount is estimated at $566,000. This transfer was confirmed as a single on-chain transaction, and while it has been verified that the assets have entered the Coinbase Prime account, it does not imply a sale has been executed. Coinbase Prime is a trading and custody platform for institutional investors. BlackRock's IBIT and ETHA are spot ETFs designed to provide exposure to the price movements of Bitcoin and Ethereum, respectively. In the U.S., spot ETFs are linked to the custody process and underlying asset holdings, allowing movements from large asset manager wallets to be captured on-chain. On the same day, there was a net outflow of 2015 BTC from U.S. Bitcoin ETFs, while Ethereum ETFs recorded a net inflow of 22,900 ETH over the past seven days. Further data is needed to understand how the movement from BlackRock's wallet relates to the net inflows and outflows of the ETFs.
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