On-chain trackers said a BlackRock-related address transferred 3,966 BTC worth about $244 million to Coinbase, with later wallet activity indicating 3,671 BTC was sold and 10,566 ETH was bought in a rebalance.
A BlackRock-linked address transferred 3,966 BTC worth about $244.4 million to Coinbase on June 9, according to Onchain Lens, which said additional assets might still be moved. Odaily separately cited Lookonchain as saying a related wallet later sold 3,671 BTC worth about $230 million and bought 10,566 ETH worth about $17.71 million, suggesting a rebalance from Bitcoin into Ethereum. The move followed another recent Coinbase-bound transfer involving 3,300 BTC and 15,095 ETH worth more than $234 million. Large exchange deposits can reflect trading, portfolio rebalancing, liquidity management or custody activity, but on-chain data alone does not confirm intent.