BlackRock Continues Active Cryptocurrency Transfers: Another $465M in BTC and ETH to Coinbase Prime

According to data from the monitoring service Lookonchain, the company transferred 4,198 Bitcoin (BTC) worth approximately $348 million and 43,237 Ethereum (ETH) worth $117 million. These operations occurred within a few minutes and were recorded on the blockchain, sparking lively discussions in the crypto community.

This transfer is part of a series of similar transactions that BlackRock has been conducting recently. For example, just a few days prior on November 19, the company transferred $616 million in BTC and nearly $200 million in ETH to the same platform. And on November 18, transfers amounting to $478 million in BTC and ETH were recorded. Overall, over the past week, the total amount of transfers has reached hundreds of millions of dollars, linked to the activities of their ETF funds IBIT (Bitcoin) and ETHA (Ethereum).

Who is BlackRock?

BlackRock is one of the largest investment companies in the world, founded in 1988 in New York by a group of eight people. Today, it is a global asset manager with over 21,000 employees working in more than 100 offices across 38 countries. The company manages assets worth over $10 trillion (as of 2025), making it a key player in financial markets. BlackRock focuses on providing investment products, technologies, and tools for clients, including pension funds, institutional investors, and individual clients. Their philosophy is based on prioritizing client interests, risk management, and creating accessible investment solutions, such as iShares ETF funds, which allow investors to easily invest in various assets at low cost.

In the cryptocurrency space, BlackRock has become a pioneer among traditional financial giants. In 2024, the company launched spot ETFs for Bitcoin (IBIT) and Ethereum (ETHA), which quickly gained popularity. These funds allow investors to buy cryptocurrency through traditional exchanges without the need for direct ownership of the assets. BlackRock uses Coinbase as a custodian for these ETFs, which explains the frequent transfers to Coinbase Prime – an institutional platform for major players.

Context and Significance of the Transfers

According to analysts, such transfers do not necessarily indicate a massive sell-off of cryptocurrency by BlackRock. On the contrary, they are often part of routine ETF operations: redemption of fund units, portfolio rebalancing, or administrative processes. For example, when investors withdraw funds from an ETF, BlackRock must transfer the corresponding cryptocurrency to the custodian for settlement. This is confirmed by the T+2 settlement system (settlement two days after the trade), which is used in ETFs.

Recent weeks have shown significant outflows from Bitcoin and Ethereum ETFs - for instance, over $1 billion in a few days in November 2025. This may be related to market volatility but does not indicate a loss of confidence by BlackRock in crypto assets. On the contrary, the company continues to accumulate positions: IBIT holds about 799,000 BTC and total assets under management in crypto reach $80-100 billion. Some experts see these movements as strategic steps for risk hedging or preparation for new inflows.

In the crypto community, opinions are divided: some see this as a signal for price declines (e.g., due to potential market pressure), while others view it as an opportunity to buy on the dip, considering the long-term interest from institutions. BlackRock, as a fiduciary, acts in the interests of its clients, and such operations underscore the integration of crypto into traditional finance.

This event highlights the growing role of institutional players in the crypto market, where the movements of one giant can influence prices.