On-chain monitoring platform Onchain Lens has detected a significant deposit from BlackRock, the world's largest asset manager, into cryptocurrency exchange Coinbase on June 1, 2026 (around 21:00 Beijing time). According to the alert, a BlackRock-associated address transferred 929 Bitcoin (BTC) and 36,449 Ether (ETH) to Coinbase. Onchain Lens specializes in real-time tracking of large-address movements, and the notification quickly spread within the on-chain analysis community.
Based on market prices at the time of the transfer, the Bitcoin portion was valued at approximately $67.5 million, implying an average price of about $72,700 per BTC. The Ether portion was worth roughly $72.23 million, translating to around $1,980 per ETH. Combined, the deposit exceeded $139 million. Such a large-scale transfer stands out in recent on-chain activity; all transaction details are permanently recorded on the public Bitcoin and Ethereum ledgers and are verifiable by anyone.
BlackRock already offers the iShares Bitcoin Trust (IBIT) among its crypto-related products, and Coinbase serves as the official digital asset custodian for that trust. While substantial institutional fund flows into Coinbase are not unprecedented, Onchain Lens indicated that BlackRock may continue to deposit additional assets in the future. This deposit is therefore seen as closely tied to the daily operations and asset rebalancing of IBIT, and on-chain analysts are continuing to monitor the relevant addresses closely.