BlackRock Moves Over $670 Million in Bitcoin and Ethereum to Coinbase

BlackRock Moves Over $670 Million in Bitcoin and Ethereum to Coinbase

BlackRock’s latest crypto transfer of BTC and ETH to Coinbase suggests ongoing large-scale institutional blockchain activity and potential for further asset movements.

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Fact Check
The assessment is primarily based on a single, highly authoritative and relevant source. The research portal for Arkham, a prominent on-chain intelligence firm, is described as a 'highly likely primary source for data and analysis on the specified transfer.' Given Arkham's expertise in tracking large on-chain transactions and its high authority score (0.95), its data supporting this claim is exceptionally strong evidence. None of the other provided sources contradict this information. The majority of the other sources are irrelevant, discussing different topics or entities. Two low-authority Facebook posts mention a large crypto movement valued at approximately $670 million, but they lack the specific details of attributing the transaction to BlackRock and Coinbase. These posts do not contradict the claim but rather represent incomplete or less precise reporting of what could be the same event. In the absence of any conflicting evidence and with strong, direct support from a top-tier on-chain analysis firm, the statement is assessed as likely true with a high degree of confidence.
Summary

On February 3, Onchain Lens reported BlackRock transferred 1,134.13 BTC valued at $88.69 million and 35,358 ETH worth $80.65 million to Coinbase. Analysts note the possibility of further deposits following this movement. This transaction comes after a January 2025 transfer of 6,918 BTC and 58,327 ETH, totaling over $670 million, to Coinbase Prime. The sustained activity reflects significant reallocation of cryptocurrency holdings by BlackRock and highlights increasing institutional presence in the crypto market.

Terms & Concepts
  • Bitcoin (BTC): The first and most widely recognized cryptocurrency, operating on a decentralized blockchain.
  • Ethereum (ETH): A blockchain platform that supports smart contracts and decentralized applications, with ETH as its native cryptocurrency.
  • Coinbase Prime: Coinbase’s professional trading platform offering execution services and custody for institutional investors.