According to Onchain Lens data, BlackRock has reportedly shifted substantial crypto holdings, with approximately 2,292 Bitcoin and 9,976 Ethereum transferred into Coinbase custody. Valuations approximate $199.8 million in BTC and $29.23 million in ETH at current prices, illustrating evolving institutional custody strategies among major players.

Analysts view the action as routine custody optimization and liquidity management by a large investor, not a new market directional bet. The move underscores Coinbase‘s central role in institutional crypto infrastructure and could influence near-term liquidity dynamics in the BTC and ETH markets.