XRP holders are buzzing after on-chain data revealed major shifts in Coinbase’s reserves, sparking speculation that BlackRock could be quietly gaining exposure through Coinbase custody.

### On-Chain Data Signals Big Movement

Between June and August 2025, Coinbase’s visible XRP reserves dropped sharply — from about 780 million tokens to under 200 million, a 69% decline, according to data cited by Crypto X analyst AiMan and confirmed by XRPScan.

But this doesn’t appear to be a mass sell-off. Instead, Coinbase consolidated its wallets from 52 to roughly 10–16, each holding almost identical balances of 16.5 million XRP — a pattern more consistent with custody restructuring than liquidation.

### Why BlackRock Enters the Discussion

The speculation linking BlackRock to these transfers stems from its institutional partnership with Coinbase. Through Coinbase Prime and its integration with BlackRock’s Aladdin platform, large asset managers can gain exposure to crypto assets, potentially including XRP, via segregated custody accounts rather than exchange wallets.

This structure means institutional XRP holdings would not appear on public exchanges — fueling theories that the world’s largest asset manager could be positioning itself in XRP.

### What We Know vs. What’s Rumor

✅ Confirmed facts:

* Coinbase’s XRP holdings fell sharply this summer.

* Coinbase consolidated wallets in what appears to be a technical reallocation.

* Coinbase and BlackRock maintain a custody partnership.

❌ Unconfirmed:

* That BlackRock itself is directly buying XRP.

* No official statements or regulatory filings link the firm to XRP acquisitions.

Independent analysts caution that while institutional demand is possible, attributing it specifically to BlackRock remains speculative.

### Implications for Traders

For retail investors, the key takeaway is that this doesn’t look like a sell-off. If assets are moving to custody for institutions, this could reduce selling pressure on open markets and suggest growing institutional interest in XRP.

Until official disclosures emerge, however, the idea that BlackRock is actively accumulating XRP remains an unverified rumor. Traders are advised to watch for further data and announcements before making moves.

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⚡️ Market takeaway: Major XRP custody shifts at Coinbase point to institutional positioning. The BlackRock angle is still rumor, but worth monitoring closely.

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