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BlackRock withdraws crypto from Coinbase Prime - on-chain reports show BTC and ETH moves

BlackRock withdraws crypto from Coinbase Prime - on-chain reports show BTC and ETH moves

Onchain Lens flagged large BlackRock-linked transfers from Coinbase Prime, including a reported 2,152 BTC move and a March 5 withdrawal of 1,246 BTC plus 3,542 ETH, though the purpose remains unclear.

BTC
ETH

Fact Check
The specific factual substance of the claim is well corroborated. The original Onchain Lens posts report a 2,152 BTC (~$140M) withdrawal and a separate 1,246 BTC + 3,542 ETH withdrawal from Coinbase Prime, and these figures are reproduced exactly by Odaily and CoinNess. The purpose being 'unclear' is also fair, since even the tracker frames these as either accumulation/IBIT inflows or storage moves rather than a confirmed buy/sell. The main defect is the date: the claim's event_time and 'March 5' framing are wrong — all sources place the events on July 15, 2026 (2,152 BTC) and July 16/17, 2026 (1,246 BTC + 3,542 ETH). Because the amounts, entities, and venue are accurate while the date is misstated, the claim is substantially true but not fully accurate.
Summary

BlackRock-linked wallets reportedly withdrew crypto from Coinbase Prime in large transactions tracked on-chain by Onchain Lens. One report cited a 2,152 BTC withdrawal worth about $140 million within a single hour, while a later report dated March 5, 2025 cited a withdrawal of 1,246 BTC worth about $80.6 million and 3,542 ETH worth roughly $66.9 million. Traders monitor Coinbase Prime flows because the platform is widely used by institutions for custody and trading, but wallet movements alone do not confirm whether the transfers were for cold storage, internal rebalancing, custodian changes, settlement, ETF-related inventory management or other operational purposes.

Terms & Concepts
  • Coinbase Prime: An institutional crypto platform for custody, trading and related services.
  • cold storage: Offline storage of digital assets designed to reduce exposure to online security risks.
  • ETF-related inventory management: Movement of underlying assets to support the creation, redemption or operational needs of an exchange-traded fund.