BlackRock IBIT Deposits 1,198 BTC and 15,121 ETH to Coinbase, $185M Bitcoin Transfer Highlighted by OnchainLens

OnchainLens analytics show an institutional wallet linked to BlackRock executing a sizable transfer to Coinbase, moving 1,198 Bitcoin (BTC—roughly $129 million) and 15,121 Ethereum (ETH—about $56.1 million) within the latest on-chain window. The activity, attributed to a BlackRock IBIT address, signals ongoing institutional inflows into premier centralized exchanges and custody infrastructure.

This development adds a new data point to the evolving narrative of institutional crypto demand and liquidity migration on major platforms. Market participants should monitor subsequent flow dynamics and the potential impact on BTC and ETH price action, alongside activity within Coinbase‘s order books and liquidity pools.