Citing Crypto.News, a wallet linked to BlackRock moved 2,156 BTC (~$186M) to Coinbase Prime, with analysts noting it as routine ETF liquidity and settlement activity rather than sell pressure. Institutional Bitcoin transfers typically support ETF share creation/redemption, OTC settlement, custodial rebalancing, and treasury operations. Coinbase Prime, an institutional settlement platform, is not a retail exchange. Analysts suggest the movement is part of scheduled liquidity or custodial processes, not speculative trading. Observers will monitor further on-chain activity for signs of ETF share creation, redemption, or additional institutional flows.
BlackRock-Linked Wallet Transfers $186M in Bitcoin to Coinbase Prime
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