BlackRock Shifts $49M of BTC and ETH into Coinbase Prime Custody

TLDR

• BlackRock transferred $49 million in Bitcoin and Ethereum to Coinbase Prime on April 8, 2026.
• The move included 416.654 BTC and 8,513 ETH from BlackRock’s ETF-linked wallets.
• This shift is part of a broader pattern of BlackRock using Coinbase Prime for ETF-related crypto flows.
• The Ethereum transfer from BlackRock’s ETHA ETF was valued at approximately $19.14 million.
• BlackRock’s Bitcoin transfer through its iShares Bitcoin Trust (IBIT) totaled about $29.86 million.

On April 8, 2026, BlackRock transferred $49 million in Bitcoin and Ethereum from its ETF-linked wallets to Coinbase Prime. The move includes 416.654 BTC and 8,513 ETH, according to data from Arkham. This shift is part of a broader pattern of institutional movements in the crypto space.

BlackRock Shifts Ethereum to Coinbase Prime

BlackRock’s Ethereum ETF (ETHA) transferred 8,513 ETH, valued at approximately $19.14 million, to Coinbase Prime. The transfer occurred just one hour before publication on April 8. This move aligns with a larger trend of ETF-related assets flowing through Coinbase Prime for custody and trading.

The latest Ethereum transaction follows similar actions from BlackRock in recent weeks. On March 25, ETHA sent 15,400 ETH, worth around $32 million, into Coinbase Prime. Such transfers are seen as part of a regular rebalancing process for BlackRock’s ETF structure, not speculative trading.

Alongside Ethereum, BlackRock’s iShares Bitcoin Trust (IBIT) moved 416.654 BTC, valued at $29.86 million, to Coinbase Prime. This is the latest Bitcoin transaction in a series of ETF-related fund movements. These transactions highlight how institutional investors are increasingly using Coinbase Prime for large-scale crypto operations.

Earlier this year, BlackRock had already moved a considerable amount of BTC and ETH through Coinbase Prime. A previous transfer in March saw BlackRock shift 634 BTC and 11,780 ETH, totaling over $70 million. The shift of funds has become a routine part of BlackRock’s asset management strategy, with Coinbase Prime serving as a key venue for these large-scale transfers.

Coinbase Prime as BlackRock’s Institutional Hub

Coinbase Prime continues to serve as the primary venue for BlackRock’s institutional ETF operations. The platform is tailored for large asset managers and offers block trading, custody, and reporting tools. According to Arkham, these large-scale movements of crypto assets into Coinbase Prime are often a precursor to rebalancing ETF portfolios or other significant adjustments in the fund’s structure.

As BlackRock’s use of Coinbase Prime grows, it signals the increasing role of regulated prime brokers in institutional crypto markets. The transfers from BlackRock highlight the growing importance of these services in managing large-scale assets, moving beyond traditional retail trading venues.

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