- BlackRock moved 2,200 BTC worth $149M and 2,417 ETH worth $4.84M to Coinbase, according to on-chain data.
- On-chain trackers show that BlackRock also sent 1,134 BTC and 7,553 ETH to Coinbase in February 2026.
- Transfers to Coinbase Prime are linked to BlackRock’s Bitcoin (IBIT) and Ethereum (ETHA) ETF operations.
BlackRock has transferred a large amount of Bitcoin and Ethereum to Coinbase, according to recent on-chain data. The transactions include about 2,200 BTC and 2,417 ETH sent to Coinbase Prime.
Blockchain monitoring services reported the activity on March 9, 2026, and analysts noted that additional transfers may follow as ETF operations continue.
BlackRock Transfers Bitcoin and Ethereum to Coinbase
On-chain analyst Onchain Lens reported that BlackRock deposited 2,200 BTC and 2,417 ETH into Coinbase. The Bitcoin transfer was valued at about $149 million, while the Ethereum transfer was worth about $4.84 million.
The analyst shared the update on X and stated, “BlackRock deposited 2,200 $BTC and 2,417 $ETH into Coinbase and may deposit more.” Blockchain records tracked the movements through wallets linked to BlackRock’s crypto-related operations.
Blackrock deposited 2,200 $BTC worth $149.13M and 2,417 $ETH ($4.84M) into #Coinbase and likely to deposit morehttps://t.co/pyOLoPpL7H pic.twitter.com/b1IFifmNeA
— Onchain Lens (@OnchainLens) March 9, 2026
Blockchain monitoring platforms often identify transfers linked to institutional investors. These records allow analysts to follow the movement of digital assets across wallets and exchanges.
Coinbase Prime serves as the primary custodian and trading partner for BlackRock’s digital asset funds. Transfers between custody wallets and the exchange often appear during routine fund operations.
Connection to Spot Crypto ETF Operations
BlackRock manages the iShares Bitcoin Trust (IBIT) and the iShares Ethereum Trust (ETHA). These funds hold Bitcoin and Ethereum that back shares traded on public markets.
ETF issuers move digital assets between storage and trading platforms to manage investor demand. These transfers may occur when funds process share creation or redemption activity.
Coinbase Prime provides custody and trading infrastructure for the digital assets held by these funds. Because of this arrangement, movements between BlackRock-linked wallets and Coinbase are visible on the blockchain.
Institutional asset managers often adjust wallet balances as part of fund management. Such transfers can occur during periods of increased ETF trading activity.
Similar Transfers Recorded in Early 2026
Blockchain Analyst recorded several large transfers during February 2026. Some of these transactions involved hundreds of millions of dollars in Bitcoin.
One tracked movement showed BlackRock depositing 1,134 BTC worth about $75 million into Coinbase. The firm also transferred 7,553 ETH valued at roughly $14.46 million.
Blackrock deposited 1,134 $BTC worth $75M and 7,553 $ETH worth $14.46M to #Coinbase and likely to deposit more.https://t.co/pyOLoPpL7H pic.twitter.com/jTZHzOqopJ
— Onchain Lens (@OnchainLens) February 23, 2026
On-chain monitoring services reported that these assets moved to wallets linked to Coinbase Prime. Analysts tracking institutional wallets confirmed the transactions using public blockchain records.
Several transfers appeared during periods when spot Bitcoin ETFs recorded daily outflows. During those times, fund managers may move assets to exchanges to process redemptions.
Ethereum transfers connected to the ETH fund also followed similar patterns. These movements often occur when ETF issuers adjust holdings based on investor demand.
Market Watches Large Institutional Wallet Activity
Large institutional wallet transfers often attract attention from traders and blockchain analysts. Public blockchain data allows observers to track movements linked to major asset managers.
These transactions are visible because blockchain networks record all transfers on a public ledger. Analysts use this data to monitor activity between institutional wallets and exchanges.
Exchange deposits do not always mean assets will be sold. Transfers may also support custody adjustments, liquidity management, or internal fund operations.
Onchain Lens and other monitoring platforms continue to track wallets linked to BlackRock. Analysts say further transfers could occur as ETF activity continues during March 2026.
