BlackRock’s IBIT Transfers $87.4M in Bitcoin and Ethereum to Coinbase

BlackRock’s iShares Bitcoin Trust (IBIT) deposited 1,198 BTC worth about $129 million and 15,121 ETH valued at roughly $56.1 million into Coinbase in a recent transaction, reflecting active institutional engagement with cryptocurrency markets. These deposits add to a prior pattern of large transfers, including October 31 moves of 3,496 BTC and 31,754 ETH to Coinbase Prime and October 30 transfers of 794.43 BTC and 48.36 ETH. The scale and frequency of these operations highlight BlackRock’s continuing strategy of managing substantial digital asset holdings via institutional-grade platforms.