Grayscale just made a notable on-chain move, transferring 19,803 $ETH
(that’s over $60 million at current prices) to Coinbase Prime. What makes this interesting isn’t just the size of the transfer, but the route it took: the transaction was funneled through Ethereum Mini Trust and a cluster of addresses tied to Grayscale’s ETF-related operations.
This isn’t the kind of activity that flies under the radar. Whether it's part of ETF structuring, custodial reshuffling, or preparing liquidity for institutional flows, the coordination signals something bigger in motion. Grayscale has been quiet for a while, but when it moves, it usually means business.
So… just a routine transfer or the start of something more strategic?