Overview
- A BlackRock spokesperson confirmed a 1,633 BTC transfer (about $143 million) to Coinbase Prime as routine liquidity activity for its spot Bitcoin ETF.
- On December 1, on-chain data also showed a separate 2,156 BTC move (roughly $186–$200 million) from a BlackRock-linked wallet to the same platform.
- Coinbase Prime serves institutional custody and bulk settlement rather than retail order-book trading, which is typical for ETF rebalancing and OTC settlement.
- BlackRock’s iShares Bitcoin Trust has reached about $70.7 billion in assets and holds more than 3% of circulating Bitcoin, heightening market attention to its wallet flows.
- Recent ETF flow readings include roughly $66 million in net withdrawals on Monday and an earlier reported $137 million weekly outflow, prompting observers to watch for any follow-on moves that would indicate liquidation.