On-chain data cited by Onchain Lens showed the IBIT spot Bitcoin ETF wallet sent about 3,126 BTC to Coinbase Prime in multiple transactions, including several 300 BTC transfers and one 126.168 BTC move.
BlackRock’s IBIT spot Bitcoin ETF transferred about 3,126 Bitcoin, worth roughly $203 million, to Coinbase Prime on July 24, according to blockchain tracker Onchain Lens. The movement was split across multiple transactions from the same ETF custody address, including several 300 BTC transfers and one 126.168 BTC transfer. Large ETF-linked transfers to Coinbase Prime are closely watched by crypto traders because they can reflect custody, liquidity management, or activity related to the ETF share creation and redemption process.