BlackRock Moves $170M BTC and ETH to Coinbase Amid BTC ETF Outflows
BlackRock transferred $170 million in Bitcoin and Ethereum to Coinbase Prime, leading some to wonder if the move means they are selling...
Quick overview
- BlackRock transferred $170 million in Bitcoin and Ethereum to Coinbase Prime, raising speculation about their buying or selling intentions.
- Historically, BlackRock's transfers to Coinbase have often been linked to selling, as seen with a $600 million transfer in January followed by a $142 million outflow.
- GameStop Holdings also moved $450 million in Bitcoin to Coinbase, indicating ongoing institutional interest in crypto despite market downturns.
- Bitcoin ETF assets under management have dropped below $100 billion for the first time since April 2025, reflecting caution in the market despite recent inflows.
BlackRock transferred $170 million in Bitcoin and Ethereum to Coinbase Prime, leading some to wonder if the move means they are selling or buying more. Recent ETF inflows suggest that part of the funds may have gone toward buying more BTC and ETH.
Most of the time, when BlackRock moves crypto to Coinbase, it is linked to selling. For example, in late January, they transferred $600 million in Bitcoin and Ethereum to Coinbase, and the next day, $142 million flowed out.
Other big players are active too. GameStop Holdings moved $450 million in Bitcoin to Coinbase, which is about $70 million less than what they paid for it. CEO Ryan Cohen said this was part of diversifying the company’s investments. These large transfers show that institutions are still interested in crypto, even though the market is down.
Bitcoin ETFs AUM Drops Below $100B
Total Bitcoin ETF assets under management have dropped to $97 billion. This is the first time since April 2025 that the number has fallen below $100 billion. The peak was $168 billion in October 2025.
🚨BLACKROCK SHIFTS $600M IN CRYPTO TO COINBASE
BlackRock moved 6,918 BTC worth $538.6M and 58,327 ETH worth $133.6M to Coinbase roughly an hour ago. pic.twitter.com/VqAOLMVqY5
— Coin Bureau (@coinbureau) February 2, 2026
Although recent inflows from asset managers reached $561 million, daily outflows continue, reflecting caution in the market. BTC ETF pricing currently sits below the creation cost of $84,000, though experts note the decline is unlikely to trigger further ETF selling.
BlackRock Expands Crypto Offerings
BlackRock plans to launch a Bitcoin Premium Income ETF on Nasdaq, which is designed to earn yield from Bitcoin holdings. This move follows earlier activity, such as the $170 million in BTC and ETH transfers and $561 million in ETF inflows.
The market pays close attention to BlackRock’s actions because their trades often influence how people feel about crypto overall. These moves can show both new opportunities and risks for investors.
Key Figures at a Glance:
- $170M – BTC and ETH moved to Coinbase Prime
- $600M – January BTC/ETH transfer to Coinbase
- $142M – Outflow after January transfer
- $450M – GameStop BTC moved to Coinbase
- $70M – GameStop BTC loss vs purchase price
- $97B – Current Bitcoin ETF AUM
- $168B – BTC ETF AUM peak Oct 2025
- $561M – Recent BTC ETF inflows
- $84,000 – BTC ETF creation cost
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