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BlackRock iShares Bitcoin Trust transfers to Coinbase Prime moved over 700 BTC (≈$47M) from ETF custody into Coinbase institutional wallets, a shift coinciding with $104.1M in ETF net outflows and a 5% weekly decline in IBIT, signaling reallocation pressure across the Bitcoin ETF complex.
700+ BTC moved from ETF custody into Coinbase Prime in multiple chunks.
Bitcoin ETFs reported -$104.1 million in net outflows while Ethereum ETFs logged $169.7 million in inflows.
IBIT declined about 5% for the week, closing at $62.84; transfers appeared in 300 BTC and 131 BTC increments.
BlackRock iShares Bitcoin Trust transfers to Coinbase Prime show 700+ BTC moved amid ETF outflows; read COINOTAG analysis and implications for traders.
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What are BlackRock iShares Bitcoin Trust transfers to Coinbase Prime?
BlackRock iShares Bitcoin Trust transfers to Coinbase Prime refer to a recent movement of more than 700 BTC—approximately $47 million—redirected from ETF custody into Coinbase Prime institutional deposit wallets. Arkham on-chain data confirms the pattern: 300 BTC chunks followed by a 131 BTC transfer, coinciding with ETF net outflows and a weekly IBIT price decline.
The transfers do not, by themselves, prove immediate sell pressure, but they increase the available supply on a major institutional exchange and coincide with material flows away from Bitcoin ETFs.
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How do these transfers relate to ETF outflows and market rotation?
Arkham on-chain tracing and daily fund flow reports show the transfers arrived as the Bitcoin ETF sector recorded -$104.1 million in net outflows for the day. IBIT reflected the market reaction with a roughly 5% weekly drop, closing at $62.84. At the same time, Ethereum-focused ETFs reported $169.7 million of inflows, indicating a probable rotation of capital from Bitcoin exposure toward Ethereum products.
COINOTAG analysis notes that the timing and scale—multiple 300 BTC transfers and a separate 131 BTC move—underscore a deliberate consolidation of institutional BTC on Coinbase Prime, a primary venue for large custodial and trading activity. This pattern is consistent with either custody rebalancing by ETF managers or preparatory steps for redemptions that would require on-exchange liquidity.
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Source: Arkham
Frequently Asked Questions
Did BlackRock directly sell the Bitcoin after moving it to Coinbase Prime?
There is no on-chain confirmation that the transferred BTC were immediately sold. The movement to Coinbase Prime increases accessibility for institutional trading, but transfers can represent custodial housekeeping, rebalancing, or preparatory steps for potential redemptions. Arkham data only shows on-chain transfers, not trade execution.
What does this mean for Bitcoin price in the short term?
Short-term price impact depends on whether the deposits are followed by execution on the exchange. The concurrent -$104.1M ETF outflow and IBIT’s 5% weekly drop indicate downward pressure; however, capital inflows to Ethereum ETFs suggest cross-market rotation rather than uniform selling of crypto assets.
Source: TradingView
Key Takeaways
Significant institutional movement: Over 700 BTC (~$47M) was transferred from ETF custody into Coinbase Prime, increasing on-exchange institutional balances.
ETF flow divergence: Bitcoin ETFs posted -$104.1M in net outflows while Ethereum ETFs attracted $169.7M, highlighting a capital rotation toward ETH products.
Actionable insight: Traders should monitor Coinbase Prime order books and ETF flow reports for confirmation of execution; custodial transfers can presage but do not guarantee selling activity.
Conclusion
BlackRock iShares Bitcoin Trust transfers to Coinbase Prime—confirmed by Arkham on-chain data—coincide with notable ETF outflows and a weekly drop in IBIT, suggesting reallocation pressure in institutional channels. COINOTAG will continue tracking on-exchange liquidity, ETF flow reports, and price action; traders and portfolio managers should watch for follow-through in Coinbase order books and daily fund flow updates.
