BlackRock-linked ETF wallets transferred 8,513 ETH and 416.654 BTC to Coinbase Prime, for a combined value of about $49 million, according to Arkham on-chain data cited in the report. The transfers were tied to the firm’s spot Ethereum ETF ETHA and Bitcoin ETF IBIT, with both assets sent to the same institutional destination.
The report said that roughly one hour before publication on April 8, ETHA moved 8,513 ETH valued at around $19.14 million to a Coinbase Prime address. IBIT separately sent 416.654 BTC worth about $29.86 million to that address. The transaction details were relayed by BlockBeats and regional media based on Arkham tracking.
Coinbase Prime remains the main venue for ETF-related transfers
The latest movement fits a pattern that has developed over recent months. BlackRock has repeatedly used Coinbase Prime to handle crypto transfers associated with its ETF operations. On March 25, an address linked to ETHA deposited 15,400 ETH, worth about $32 million, into Coinbase Prime. A separate TechFlow report summarizing Arkham monitoring said BlackRock also moved 11,780 ETH and 634 BTC to Coinbase Prime through ETHA and IBIT in late March, valued at about $25.75 million and $45.35 million.
Earlier in the year, posts on Binance Square citing Arkham said BlackRock shifted 3,970 BTC and 82,813 ETH to Coinbase Prime during a single trading window. Those transfers were valued at roughly $356.7 million and $247.1 million, and were said to coincide with “significant net outflows” from the ETFs.
On-chain ETF flows offer a live read on institutional positioning
Coinbase Prime is Coinbase’s institutional unit, offering segregated custody, block trading, and reporting tools for ETF issuers and large asset managers. Arkham said transfers of this kind commonly come before ETF rebalancing, creations, or redemptions, rather than pointing by themselves to speculative trading.
As ETF volumes expand and more traditional funds enter the crypto market, the on-chain record of large BlackRock transfers into Coinbase Prime is becoming a real-time signal for institutional positioning in BTC and ETH. The report also notes that this flow data can diverge sharply from price action on spot venues, where trading is more exposed to retail activity, macro releases, central-bank expectations, and liquidity pressure.