BlackRock executed major transfers of Bitcoin and Ethereum into Coinbase Prime on Tuesday, highlighting strong institutional crypto activity. The company’s ETF-linked wallets moved 900 BTC valued at $101.67 million and 44,774 ETH worth $195.29 million, totaling nearly $297 million in deposits.
Data from Arkham showed three separate Bitcoin transactions of 300 BTC each, alongside four Ethereum transfers of 10,000 ETH and one of 4,774 ETH. All were directed to Coinbase Prime, underscoring its role as a preferred custodian for large institutional players.
At the same time, ETF flows painted a mixed picture. BlackRock’s IBIT Bitcoin ETF registered inflows of $25.48 million, pushing assets under management past $90 billion. In contrast, its Ethereum ETF (ETHA) saw significant outflows of $192.7 million—the largest single-day redemption since its launch. Notably, the withdrawn amount mirrored the ETH moved into Coinbase Prime accounts, aligning with broader spot Ethereum ETF outflows totaling $447 million recently.
This divergence reflects shifting sentiment between Bitcoin and Ethereum ETF investors. While IBIT continues to attract steady capital, ETHA faces selling pressure despite Ethereum’s recent price gains. Institutions appear more cautious about Ethereum exposure, even as ETH delivered stronger long-term returns than Bitcoin.
Other issuers showed different trends: Fidelity’s FETH ETF attracted $75.15 million in inflows, while Grayscale’s ETHE added $9.55 million. These movements suggest Ethereum demand remains resilient, with investors reallocating across providers rather than abandoning ETH entirely.
Despite the ETF outflows, Ethereum’s price climbed 1.11% to $4,351, outperforming Bitcoin’s 0.53% rise to $112,668. Over the past six months, Ethereum surged 128% compared to Bitcoin’s 34.6%. Year-to-date, ETH gained 30.7% versus BTC’s 20.7%, showing Ethereum’s stronger overall momentum despite short-term ETF withdrawals.
