BlackRock, the world’s largest asset manager, deposited around 5,080 Bitcoin worth approximately $358 million and 27,196 Ethereum valued at about $57 million into Coinbase Prime this morning, according to Arkham Intelligence data.
The transfers came as Bitcoin continued to weaken after breaking below $71,000 yesterday. The digital asset dipped to $69,200 at the time of reporting, down 22% in the last 7 days, per TradingView.
The movements follow a pattern of large transfers earlier in the week, usually followed by big inflows and outflows. They do not automatically signal withdrawals, but market watchers pay close attention as crypto markets remain volatile.
IBIT, BlackRock’s spot Bitcoin ETF launched in January 2024, recorded approximately $373 million in net outflows on Wednesday, while US spot Bitcoin ETFs collectively saw $545 million in single-day outflows.
Crypto markets saw over $1 billion in leveraged liquidations in 24 hours, with long positions taking the bulk at about $897 million.
Bitcoin is now down over 20% year-to-date in 2026. Ethereum has fared worse, falling roughly 30% since January.
