Wallets Linked to BlackRock Funds Transfer 18,098 Ether to Coinbase Prime Worth $43.6 Million
Key Facts
Wallets linked to the ETHA and ETHB funds sent about 18,098 Ether to Coinbase Prime on October 23, in a transfer valued at $43.6 million, according to a report published by EconoTimes. The report said the wallets received digital assets on the same day. The transfer is part of movements by wallets linked to BlackRock’s digital products, but does not by itself prove that the assets were sold on the market. BlackRock has not announced that the transfer represents a sale or redemption request. ETHA documents say Coinbase performs roles for the fund that include custody, execution and settlement of Ether transactions.
ETHA gives investors exposure to Ether through traditional brokerage accounts, without the need for direct cryptocurrency custody arrangements, according to the fund’s fact sheet at iShares. The fund prospectus filed with the U.S. Securities and Exchange Commission names Coinbase as Ether custodian and primary execution agent. The execution agent facilitates the purchase, sale or settlement of Ether in transactions to create and redeem fund shares. Transfers between wallets and Coinbase can therefore be part of the fund’s operating structure. But documents explaining these roles do not specify the purpose of the transfer reported on October 23.
The transfer follows earlier activity reported by EconoTimes on October 23, when it said wallets linked to ETHA and ETHB received digital assets, alongside the transfer of 18,098 Ether to Coinbase Prime. The outlet valued that transfer at $43.6 million. In April 2025, Bloomberg reported that BlackRock had added Anchorage Digital as a second digital-asset custodian alongside Coinbase. Coinbase had previously been the sole custodian for the company’s Bitcoin and Ether exchange-traded products. This puts Coinbase’s use in the context of BlackRock’s broader custody arrangements, without identifying where the assets went after being deposited or whether they were sold.
ETHA’s net assets stood at about $7,541,403,219 on October 27, according to the fund’s official page at iShares. The page showed a year-to-date total return of negative 10.00% through September 30. In its 2025 annual report, the fund said its net asset value rose 188.43% compared with the end of 2024. The report recorded the creation of 13,658 baskets and the redemption of 5,727 baskets during the year. These figures show that share creations and redemptions are part of the fund’s activity, but do not link the latest transfer to any specific redemption.
In a filing submitted in August 2026, ETHA announced a reverse stock split at a ratio of one share for every three, effective at the start of trading on October 6. The document said the action would not change the fund’s total asset value or a shareholder’s investment value. In the market, Ether closed at $2,359.68 on October 28, then at $2,306.05 on October 29, according to EL7 data. BlackRock shares closed at $1,157.88 on October 28, compared with $1,136.05 the previous day. Coinbase shares also closed at $162.32 on October 28, compared with $161.09 the previous day; these are separate data from the transfer reported by EconoTimes on October 23.