๐จ BlackRock Moves $441M in BTC to Coinbase Prime โ What's Going On?! ๐จ
In a chillingly strategic move, BlackRock just transferred 5,100 BTC (worth around $441 million) to Coinbase Prime โ and the timing couldnโt be more intense.
Over the past three days, BlackRockโs iShares Bitcoin Trust (IBIT) has bled $741 million in net outflows. Thatโs not a typo. Meanwhile, the entire U.S. spot Bitcoin ETF market saw $1 billion pulled in a single day โ with IBIT alone accounting for a jaw-dropping $164 million.
๐ BTC is now hovering around $104,314, slipping just 0.00371% โ but that calm surface could be deceiving.
So, whatโs really happening?
Some analysts believe hedge funds might be unwinding aggressive arbitrage trades โ long IBIT, short CME futures โ especially if the basis spread is tightening. If thatโs true, weโre witnessing a quiet storm of redemptions and recalibrations behind the scenes.
But donโt jump to โsell-offโ conclusions just yet.
This massive Coinbase Prime transfer could just as easily signal ETF redemptions, liquidity management, or even a tactical shift in how BlackRock handles its BTC reserves.
๐ฅ Bottom line: This isnโt just another blockchain blip. Something big is shifting under the surface โ and the smart money is watching.
๐ Keep your eyes glued to the flows. The next move could reshape the market.