BlackRock moves $192M in Bitcoin to Coinbase following last week’s $435M outflow

Key Takeaways

BlackRock transferred 2,200 Bitcoin and a significant amount of Ethereum to Coinbase Prime.
Bitcoin has remained volatile, rising past $90,000 over the weekend before retreating to $87,703.

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BlackRock, the world’s largest asset manager, deposited over 2,200 Bitcoin worth around $192 million and $22 million in Ethereum to Coinbase Prime today, according to data from Arkham Intelligence.

The latest transfers come after IBIT, the company’s flagship Bitcoin ETF, recorded $435 million in net outflows last week. Recent weeks have brought choppy flows overall, but outflows have generally outweighed inflows.

BlackRock’s Ethereum ETF (ETHA) has also seen extended investor withdrawals in recent weeks, including $69 million last week.

Bitcoin has seen sharp price swings, climbing above $90,000 over the weekend before easing to $87,703, per CoinGecko. Ethereum likewise pulled back below $3,000 after earlier gains.