BlackRock moves $270M in Bitcoin, Ether to Coinbase as weekly outflows spike
BlackRock moved $270 million in Bitcoin and Ether to Coinbase amid significant weekly outflows from its crypto funds.Summary
BlackRock transferred approximately 2,563 Bitcoin ($173 million) and 49,852 Ethereum ($97 million) to Coinbase Prime on Friday, according to Arkham Intelligence. This movement coincided with a spike in redemptions from its flagship crypto funds, with the spot Bitcoin ETF (IBIT) seeing $368 million in net outflows over three days, contributing to a total of $404 million withdrawn from all 11 US Bitcoin ETFs. BlackRock's Ethereum fund (ETHA) also shed $104 million in the same period. Such transfers are typically routine for managing ETF share creation and redemption based on investor demand, rather than an explicit signal to sell. These events followed a crypto market rebound after a White House meeting regarding stablecoin yields, which saw Bitcoin surge past $68,000 and Ethereum approach $2,000.
(Source：Crypto Briefing)