BlackRock Moves $62M in BTC and ETH
Asset manager BlackRock recently transferred $62 million worth of Bitcoin and Ethereum through Coinbase Prime, according to a report by AMBCrypto. The transaction involved 656.71 Bitcoin valued at approximately $49.79 million and 5,150 Ethereum worth roughly $12.28 million. While the transfers represent a very small percentage of BlackRock’s overall holdings, the wallet activity coincides with a broader period of negative flows across crypto exchange-traded funds.
AMBCrypto reported that the recent wallet movements do not definitively confirm whether the assets are supporting ETF operations or longer-term custodial services. Subsequent transactions will provide a clearer indication of how the firm intends to utilize the funds. The transfers arrived as institutional demand faced headwinds, highlighted by recent weekly outflows for both Bitcoin and Ethereum funds following worsening investor sentiment and regulatory setbacks in Washington.
Despite the recent outflow trend, BlackRock’s broader exposure through its IBIT and ETHA funds has demonstrated resilience through previous market downturns. The IBIT fund currently holds approximately 795,000 Bitcoin, while the ETHA fund holds roughly 3.6 million Ethereum. Together, these positions account for a significant portion of circulating supply, giving the asset manager a dominant market presence even as near-term ETF demand fluctuates.
Based on reporting by ambcrypto.com.
