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BlackRock-linked wallets move Bitcoin to Coinbase as IBIT and Ether ETFs see outflows

BlackRock-linked wallets move Bitcoin to Coinbase as IBIT and Ether ETFs see outflows

On-chain trackers reported large BlackRock-linked Bitcoin transfers to Coinbase on June 8-9, while U.S. spot Bitcoin ETFs posted consecutive net outflows and U.S. spot Ether ETFs swung to a June 9 net outflow.

BTC
ETH

Fact Check
The OnchainLens X post and PANews article confirm BlackRock moved 3,580 BTC and 15,095 ETH to Coinbase on June 8, matching the claim's amounts. The cited dollar value ($227M BTC + $25.17M ETH ≈ $252M) is somewhat higher than the claim's '~$234 million,' so that specific dollar figure is slightly imprecise but within rough order of magnitude. BlockBeats/Farside data confirm BlackRock's IBIT led that day's US spot Bitcoin ETF outflows with -$232.9M, supporting the second part of the claim.
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Summary

BlackRock-linked wallets transferred large amounts of crypto to Coinbase on June 8 and June 9, according to cited on-chain trackers, while U.S. spot Bitcoin ETFs logged consecutive daily net outflows and U.S. spot Ether ETFs recorded a net outflow on June 9. Reported transfer figures differ: one cited report listed 3,300 BTC and 15,095 ETH moved on June 8, another cited 3,580 BTC and 15,095 ETH, and Onchain Lens later reported 3,966 BTC worth about $244.4 million moved to Coinbase on June 9. Odaily, citing Lookonchain, said a related wallet later sold 3,671 BTC worth about $230 million and bought 10,566 ETH worth about $17.71 million, suggesting a possible rebalance, but on-chain data alone does not confirm intent. Separately, U.S. spot Bitcoin ETFs saw net outflows of $91.3736 million on June 8 and $77.4378 million on June 9, with BlackRock's IBIT posting the largest outflows on both days. U.S. spot Ether ETFs, after a prior $82.4 million net inflow, swung to a $40.8513 million net outflow on June 9 led by Grayscale products.

Terms & Concepts
  • on-chain: Recorded on a public blockchain and used to track wallet transfers and related activity.
  • net outflow: A situation in which more money leaves a fund or group of funds than enters it.
  • spot Bitcoin ETFs: Exchange-traded funds that track Bitcoin's price through listed investment products.