Overview
- Arkham data shows BlackRock moved 2,201 BTC and 7,557 ETH worth about $214 million to Coinbase Prime in late December.
- The transfers followed a stretch of ETF withdrawals, including $275.88 million in net outflows for spot Bitcoin funds on Dec. 26 and a weeklong exodus across products.
- BlackRock previously moved 6,174.39 BTC to Coinbase Prime, reported as facilitating share redemptions for its Bitcoin fund.
- New fund-flow data shows a reversal, with IBIT drawing $143 million and U.S. spot Bitcoin ETFs posting $355 million in net inflows on Tuesday, breaking the seven-day outflow streak as Bitcoin rebounded above $89,000 before easing.
- Contrasting flows continued as Lookonchain reported MicroStrategy bought 1,229 BTC for $108.85 million, while some analysts cited by multiple outlets alleged broader selling by large trading venues and market makers.