BlackRock Moves Over $159 Million in Bitcoin and Ethereum to Coinbase

BlackRock Moves Over $159 Million in Bitcoin and Ethereum to Coinbase

On February 25, Onchain Lens detected a $74.18 million Bitcoin transfer from BlackRock to Coinbase, part of continued institutional-scale crypto movements by the firm.

BTC
ETH

Fact Check
The two most relevant primary sources from MEXC provide consistent and specific reports of a large-scale Bitcoin and Ethereum transfer to Coinbase Prime by BlackRock, with amounts totaling roughly $160 million. These articles reference on-chain data, lending additional credibility to their claims. While their authority score is moderate, the high relevance and corroboration between the reports support the probability of truth. No high-authority sources directly contradict this claim; the remaining sources are either unrelated or provide tangential information about BlackRock's crypto activity without disputing the transfer. The statement specifies an amount slightly lower ($159 million) than the reported $160 million, which could be attributed to rounding or valuation timing differences. Given the direct and consistent evidence from relevant sources, the likelihood that the transfer occurred is high, though the exact dollar figure may vary slightly.
Summary

On February 25, BlackRock transferred 1,134 BTC valued at about $74.18 million into Coinbase, according to Onchain Lens. This follows a February 24 transaction moving 1,814 BTC worth $114.45 million and 24,472 ETH valued at $44.57 million to the same platform. The consecutive large transfers suggest ongoing institutional activity in digital assets by BlackRock.

Terms & Concepts
  • BTC: The ticker symbol for Bitcoin, the first and largest cryptocurrency by market capitalization.
  • ETH: The ticker symbol for Ethereum, a blockchain platform supporting smart contracts and decentralized applications.