As per Cointribune, BlackRock transferred 2,196 BTC, valued at over $200 million, to Coinbase Prime on December 9. The move comes amid $135 million in net outflows from its Bitcoin ETF, IBIT, though the fund still holds over $60 billion in inflows since launch. Analysts suggest the transfer reflects a liquidity adjustment and optimized asset management strategy rather than a disengagement from Bitcoin. Institutional players like Fidelity continue to accumulate, supporting a green close for the global Bitcoin ETF market.
BlackRock Transfers 2,196 BTC to Coinbase Amid Bitcoin ETF Volatility
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Summary
BlackRock moved 2,196 BTC, worth over $200 million, to Coinbase Prime on December 9. The transfer followed $135 million in ETF outflows from its Bitcoin ETF, IBIT. Despite this, the fund has seen $60 billion in ETF inflows since launch. Analysts say the move is a liquidity adjustment, not a Bitcoin exit. Institutional buyers remain active, with Fidelity continuing to accumulate. The global Bitcoin ETF market closed green.
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