BlackRock moves $62 million in Bitcoin and Ether through Coinbase Prime

  • BlackRock transferred Bitcoin and Ethereum through Coinbase Prime.
  • 656.71 BTC and 5.15K ETH moved, worth approximately $62 million combined.
  • Bitcoin and Ethereum ETF outflows increased through Sept. 16 after a CLARITY Act Senate setback.

BlackRock moved $62 million in Bitcoin and Ethereum through Coinbase Prime, including 656.71 BTC worth about $49.79 million and 5.15K ETH worth roughly $12.28 million, according to Arkham. The transfers were small relative to its tracked holdings of 787.349K BTC valued at $60.15 billion and 3.556 million ETH worth $8.68 billion. BlackRock’s IBIT and ETHA funds also retained substantial positions despite steep market declines, with holdings recovering to about 795K BTC and 3.6 million ETH. However, Bitcoin and Ethereum ETF flows weakened through September, with both assets recording larger outflows on Sept. 16 after investor sentiment deteriorated following a Senate setback involving the CLARITY Act. The flow data points to weakening institutional demand and less ETF-driven support for prices, while subsequent wallet activity may provide more insight into how BlackRock intends to use the transferred funds.

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