Overview

• On August 5–6, BlackRock’s iShares ETFs deposited 101,975 ETH and 2,544 BTC—worth $664 million in total—into Coinbase Prime
• These transfers followed ETF outflows of $292 million from IBIT and $374.97 million from ETHA on August 4
• BlackRock has not clarified whether the assets will be liquidated or internally repositioned within its custody network
• SEC-approved in-kind redemptions allow ETF issuers to exchange shares for actual crypto rather than cash, reducing direct selling pressure
• Hawkish Federal Reserve signals and low summer trading volumes have heightened market sensitivity to large institutional moves