BlackRock Transfers $318.36M in BTC and ETH to Coinbase Amid ETF Outflows

Key Facts

BlackRock executed a transfer of approximately $318.36 million in Bitcoin and Ethereum to the Coinbase exchange. Benzinga reported that the move coincides with a period of significant outflows from BlackRock's spot Bitcoin ETF (IBIT), which totaled $1.66 billion over seven sessions, suggesting the transfers are related to ETF custody or liquidity management.

BlackRock shares closed at $1214.71 on November 9, 2026, while Coinbase closed at $136.1 on the same date. These large institutional transfers reflect technical adjustments in digital asset holdings alongside redemption activity, as BLK shares traded between a low of $1192.83 and a high of $1227.33 during the November 9 session.