BlackRock transfers $441 million in Bitcoin to Coinbase: the market is waiting for new movements

On February 27, 2025, BlackRock, the world’s largest asset manager, transferred 5,100 BTC, worth approximately $440 million, and 30,000 ETH, worth approximately $70 million, to the Coinbase platform. The transfer, recorded by Arkham Intelligence, occurred within the last hour and was the latest move amid pressure on the company’s flagship Bitcoin ETF, iShares Bitcoin Trust (IBIT).

BlackRock translation details

The transfer follows an earlier move on Tuesday when BlackRock sent $160 million in Bitcoin and $44 million in Ethereum to Coinbase. This week, IBIT posted negative performance for the third day in a row, with total outflows of $740 million, according to Farside Investors. On Tuesday, US spot Bitcoin ETFs recorded a record one-day outflow of more than $1 billion, of which $163 million came from IBIT.CryptoInside notes that such large exchange transfers often signal possible liquidations, especially given the recent sell-off in the ETF sector. However,BlackRock‘s exact intentions remain unclear – it could be part of liquidity management or preparation for new market moves.

Cryptocurrency market context as of 02/27/2025

The transfers occur against the backdrop of cryptocurrency market volatility. Bitcoin recently fell to $82,500, its lowest level since November 2024, but had recovered slightly to $83,650 by press time. Analysts at CryptoInside believe BlackRock’s move could increase investor uncertainty and pressure on Bitcoin’s price, especially as outflows from ETFs continue.

Highlights

• BlackRock transferred $441 million to BTC and $71 million to ETH on Coinbase Prime on February 27, 2025.
• IBIT records outflows of $741 million in a week, including a record $164 million in a day.
• The total outflow from spot Bitcoin ETFs in the US exceeded $1 billion on Tuesday.
• Bitcoin recovered to $86,000 after falling to $83,000.

Disclaimer: The information provided in this article is for informational purposes only and does not constitute investment advice. CryptoInside does not guarantee the accuracy or completeness of the information and is not responsible for any damages associated with the use of this information.