BlackRock Moves $195M ETH and $101M BTC Amid ETF Flows

TLDR

Table of Contents

BlackRock transferred 44,774 ETH and 900 BTC worth $297M to Coinbase Prime.
ETHA ETF recorded $192.7M in outflows, matching the exact ETH sent to Coinbase.
IBIT ETF saw $25.48M in fresh inflows, pushing AUM above $90 billion.
Ethereum price rose 1.11% to $4,351 despite large ETF withdrawals.

BlackRock transferred over $297 million worth of Ethereum (ETH) and Bitcoin (BTC) into Coinbase Prime as its ETFs showed uneven performance. While the company’s Bitcoin ETF saw steady inflows, the Ethereum ETF recorded one of its largest daily outflows. Despite this, ETH and BTC prices both continued to climb during the trading session.

ETF Outflows Hit Ethereum While Bitcoin Fund Sees Fresh Inflows

BlackRock moved 44,774 ETH worth around $195 million and 900 BTC worth approximately $101 million into Coinbase Prime on Tuesday. The assets were sent through multiple transactions, with Arkham Intelligence reporting three Bitcoin transfers of 300 BTC each and five Ethereum transfers, four of which were 10,000 ETH and one of 4,774 ETH.

The transfers came as BlackRock’s Bitcoin ETF, known as IBIT, gained $25.48 million in net inflows. At the same time, its Ethereum ETF, ETHA, saw outflows totaling $192.7 million. This withdrawal equaled the exact amount of ETH transferred to Coinbase Prime.

BlackRock’s IBIT now holds over $90 billion in assets under management, reinforcing its position as a dominant Bitcoin ETF. ETHA, on the other hand, experienced one of the highest single-day redemptions since its launch. These ETF movements suggest that investors are choosing to hold Ethereum outside of the fund structure or are reallocating assets.

ETH Withdrawals Coincide With Strong Price Performance

While ETHA recorded heavy withdrawals, Ethereum’s price rose 1.11% during the same period, reaching $4,351. Bitcoin also increased by 0.53%, trading at $112,668. The ETH withdrawals contrast with the positive price action, which suggests different investor strategies. Some may be taking profits, while others may be shifting ETH into different products or platforms.

Fidelity’s FETH ETF reported inflows of $75.15 million on the same day, indicating that investor interest in Ethereum remains. Grayscale’s ETHE added another $9.55 million in net flows. This activity suggests that ETH ETF investors may be moving capital between providers rather than exiting Ethereum exposure completely.

Even with the ETF outflows, Ethereum has outperformed Bitcoin over the past six months. ETH gained 128% in that period, while BTC rose by 34.6%. Since the start of the year, ETH is up 30.7% compared to BTC’s 20.7% gain. This continued growth may be influencing fund rebalancing or shifting strategies among institutional holders.

Coinbase Prime Emerges as Key Custodian for Institutions

Coinbase Prime received all the transferred ETH and BTC from BlackRock’s ETF-linked wallets. The platform continues to serve as a primary custodian for institutional crypto transactions. The coordinated deposits reinforce its role in large-scale digital asset management.

The use of Coinbase Prime suggests that the assets moved are not being sold but likely held under secure custodianship. Institutions often use such platforms to hold, rather than trade, large crypto positions. BlackRock’s transfers align with this trend, especially as ETHA saw outflows matching the amount sent to Coinbase.

The movement of assets into Coinbase coinciding with ETF redemptions indicates a possible shift in how institutions manage digital asset exposure. While Bitcoin ETF flows remain positive, Ethereum products are experiencing varied behavior across providers. These recent transfers reflect that divergence.

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