#BlackRock Moves $664 Million in ETH and BTC to Coinbase Prime Amid Market Volatility

In a major development that may signal a potential shift in institutional strategies, BlackRock, the world’s largest asset manager, has deposited a combined $664 million worth of Ethereum ($ETH ) and Bitcoin ($BTC ) into Coinbase Prime, according to on-chain data revealed by blockchain analytics firm Lookonchain.

This large-scale transaction comes amid increased macroeconomic uncertainty following former President Trump's newly announced tariffs and the release of fresh U.S. jobs data, both of which have injected fresh volatility into the cryptocurrency markets.

BlackRock Sends Shockwaves with Massive #ETH and #BTC Transfers

According to Lookonchain’s report on X (formerly Twitter), BlackRock made two separate and substantial deposits into Coinbase Prime on Tuesday:

101,975 ETH, worth $372 million

2,544 BTC, worth $292 million

The total value of these transactions stands at approximately $664 million.

What makes these transfers particularly significant is that the assets originated from BlackRock’s own ETFs:

iShares #Ethereum Trust (ETHA)

iShares #Bitcoin Trust (IBIT)

These are regulated exchange-traded funds (ETFs) launched by BlackRock to give institutional investors exposure to spot ETH and BTC markets through traditional investment vehicles.