BlackRock has moved another 2,822 Bitcoin (BTC) and 36,283 Ethereum (ETH) to Coinbase Prime as part of its ETF fund operations, extending a series of large transfers that have defined the past week of institutional activity.
The latest transactions, valued at more than $345 million combined, come shortly after the asset manager shifted an additional 3,722 BTC worth $321 million.
Heavy ETF Outflows Push BlackRock Into Rapid Rebalancing
Large outflows across BlackRock’s crypto investment lineup have made rebalancing more frequent. Its flagship iShares Bitcoin Trust ETF (IBIT) recorded more than $1.07 billion in outflows over the past week. Market participants have responded to macro uncertainty and profit-taking as Bitcoin trades near $86,000 after slipping nearly 10% from the previous Monday.
Ethereum products saw similar pressure. ETHA, BlackRock’s spot Ethereum ETF, posted $562 million in weekly outflows. Price action has remained volatile, yet ETH climbed 4.52% in the past 24 hours after falling through key support levels earlier in the week. Ethereum currently trades around $2,841, a level that continues to attract cautious accumulation from institutional desks.
Institutional demand continues to run through Coinbase Prime. As the custodian for BlackRock’s BTC and ETH ETFs, the platform facilitates large-scale transfers related to fund redemptions and periodic portfolio adjustments. The latest activity illustrates how liquidity moves swiftly between custody, trading desks, and ETF structures, especially during periods of concentrated outflows.
Funds often conduct synchronized transfers when managing redemption cycles. Therefore, the timing of BlackRock’s BTC and ETH deposits indicates preparations for further rebalancing as ETF holders reposition ahead of month-end.
BitMine Expands Ethereum Holdings
Even as investors pull capital from ETFs, corporate accumulation remains active. BitMine Immersion reported that its Ethereum holdings have reached 3.63 million tokens, raising its combined crypto and cash reserves to $11.2 billion.
The company added 69,822 ETH in the past week and purchased another 28,625 ETH worth $82.11 million shortly after the recent price dip. Bitmine aims to acquire 5% of the total Ethereum supply, and has already secured 3% so far.
Executives argue that ETH’s retreat toward $2,840 matches their projected downside range. They believe the asset’s long-term upside potential now outweighs the probability of deeper declines, especially ahead of the company’s MAVAN staking network launch scheduled for early 2026.
Evans Kelvin
The CoinRemark Team
