BlackRock-linked wallets send ~$270M (2,019 BTC, 29,928 ETH) to Coinbase Prime — market watches for sell-side pressure as major exchange-side buys spark $90K pump

first published 2025-12-22T13:11:19Z

On-chain data from Lookonchain and Arkham show wallets tied to BlackRock moved roughly $270M to Coinbase Prime: 2,019 BTC (~$181.7M) and 29,928 ETH (~$91.3M). ETH transfers occurred as three large blocks (10,000 / 9,928 / 10,000 ETH) linked to BlackRock's ETHA ETF infrastructure; BTC deposits were repeated 300 BTC transfers plus a 219.392 BTC entry tied to the IBIT Bitcoin ETF. Coinbase Prime inflows can be used for custody, OTC execution, collateral or ETF creation/redemption. The flows coincide with negative ETF flows (daily net outflows: SoSoValue -$158.25M, IBIT -$173.58M; weekly net outflow -$497.05M as of Dec. 19, 2025) and a BTC price near $90,298, prompting traders to treat the tranches as potential sell-side supply.

AI Analysis

Large on-chain transfers (2,019 BTC and 29,928 ETH) from wallets tied to BlackRock went to Coinbase Prime; ETH moves align with ETHA ETF infrastructure and a BTC entry is linked to IBIT. These inflows arrive amid reported ETF net outflows (daily and weekly figures) and a BTC price near $90,298, which market participants interpret as potential sell-side supply.

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