The XRP community is buzzing with speculation after on-chain data revealed sharp movements in Coinbase’s XRP reserves, sparking rumors that BlackRock may be quietly buying XRP via Coinbase Custody. While the story has captured massive attention, let’s break down what is confirmed, what remains speculation, and what it could mean for XRP holders.
---
On-Chain Movements: What We Know
Data from XRPScan shows that Coinbase’s visible XRP reserves plunged from ~780M tokens to less than 200M between June and August 2025 — a 69% reduction.
The number of XRP wallets dropped from 52 to ~10–16, each holding ~16.5M XRP.
This pattern suggests technical reallocation or custody restructuring, not an exchange-wide sell-off.
Analyst Crypto X AiMan emphasized: “It’s not a sell-off. Coinbase is not getting rid of XRP.”
In short: the tokens didn’t disappear — they were moved into fewer, consolidated custody accounts.
---
🏦 Why BlackRock’s Name Is in the Conversation
The connection comes down to Coinbase Prime’s custody services. Coinbase provides institutional-grade custody, integrated with BlackRock’s Aladdin platform.
This means:
Large institutions can gain indirect exposure to XRP (and other digital assets) via custody.
Assets shifted from public exchange wallets into segregated custody accounts may belong to institutional clients.
However — while the partnership exists, there is no official disclosure tying BlackRock directly to XRP.
---
✅ What’s Confirmed vs ❓ What’s Speculative
Confirmed:
Coinbase’s XRP reserves declined significantly.
Wallets were consolidated, not liquidated.
Coinbase and BlackRock do have a custody partnership.
Speculative:
BlackRock is the buyer behind these XRP reallocations.
Institutional flows into XRP are happening on a large scale.
Neither BlackRock nor Coinbase has issued any statements linking these movements directly to XRP accumulation.
Implications for XRP Holders
For XRP investors, these developments carry important takeaways:
No mass sell-off: On-chain data points to custody movements, not dumping.
Possible institutional demand: If linked to clients like BlackRock, this signals confidence in XRP’s long-term role in finance.
Market stability: Moving coins off exchanges may reduce open-market selling pressure.
Still, until official filings or disclosures emerge, claims of BlackRock buying XRP remain intriguing but unconfirmed.
Final Word
The XRP ecosystem thrives on speculation, but in this case, facts and speculation must be carefully separated. Coinbase’s wallet movements are real, institutional custody demand is plausible, but BlackRock’s direct involvement remains unverified.
For now, the XRP community can take comfort in knowing that coins are being secured in custody rather than sold — and watch closely for any formal announcements that could reshape the narrative.
