BlackRock ETF Wallets Transfer $355.63 Million in Bitcoin and Ether to Coinbase Prime

Cryptocurrency wallets linked to BlackRock's spot exchange-traded funds transferred $355.63 million in Bitcoin and Ether to Coinbase Prime over a two-hour window ending Friday morning. The transaction comprised 3,215 BTC valued at roughly $262.41 million and 38,882 ETH worth about $93.22 million. The movements followed earlier on-chain custodial activity the same day, including BlackRock ETF wallets receiving $46.59 million in digital assets and an earlier separate transfer of $202.54 million to Coinbase Prime. Market analysts noted such institutional transfers frequently reflect liquidity management, rebalancing, or fund creation and redemption mechanics.