Key Insights
- BlackRock moved $129 million in Bitcoin and $56 million in Ethereum to Coinbase Prime within one hour.
- Analysts say the transfer links to ETF redemptions, not a direct sell-off.
- Bitcoin and Ethereum prices dipped slightly as traders watched for the next market moves.
BlackRock sent $185 million worth of Bitcoin and Ethereum to Coinbase Prime on November 3, 2025. Arkham Intelligence tracked the move, sparking concerns about potential sell pressure. This comes amid volatile crypto prices and rising ETF outflows.
BlackRock’s Large Crypto Transfer Raises Questions
BlackRock transferred 1,198 Bitcoin, worth approximately $129 million, to Coinbase Prime. It also moved 15,121 Ethereum valued at around $56 million within the same hour. The value of the transfer reached $185 million.
The transaction was first noticed by Arkham Intelligence and quickly spread across social media platforms. As mentioned online, the assets came from BlackRock’s iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA).
These two funds together hold more than $100 billion in digital assets. Some market watchers suggest that the transfer may be linked to regular ETF redemptions rather than a planned sell-off. Analysts explained that such moves are part of routine fund management.
When ETF investors redeem their shares, BlackRock utilizes Coinbase Prime to manage liquidity. Instead of returning crypto, it facilitates redemptions in cash. This process adheres to the current rules established by the U.S. Securities and Exchange Commission.
Other market commentators, including Bitcoin Archive, posted about the transfer on X. It’s a sign of the negative perception around the crypto market.
Many users called it a possible dump, while others said it appeared to be normal ETF rebalancing.
Market Sees Small Drop After Transfer
Bitcoin was trading near $108,000 before the transfer, according to data from CoinMarketCap. It later dropped 2.2% to approximately $107,661.
Ethereum also edged down 4.64% to about $3,676.20. These slight declines came as traders continued to watch key price levels.
Bitcoin has support around $105,000 and resistance near $108,000. Ethereum’s support is close to $3,600, with resistance at approximately $3,800.
Meanwhile, market reactions were mixed. Rising inflation in the US has shaken investor confidence. The Federal Reserve’s signals about slower rate cuts have added to the uncertainty.
Investors are closely watching BlackRock’s regular crypto transfers. They are also monitoring the value impact of upcoming Ethereum upgrades.
Despite these short-term challenges, analysts believe the market will tilt toward actual rebalancing in the long run. BlackRock has made several similar transfers throughout 2025 without causing lasting market damage.
Institutional Players Keep Expanding Their Holdings
This latest move from BlackRock follows a regular pattern by the top US asset manager. Last month, the firm moved $384 million in Bitcoin to Coinbase Prime. It also transferred $122 million in Ethereum after ETF investors pulled out funds.
It is worth noting that these funds were sent amid the ongoing market drawdowns. In a separate update, Michael Saylor’s company, Strategy Inc., added 397 Bitcoin worth about $45.6 million.
The average purchase price was $114,771 per Bitcoin, increasing the firm’s total holdings to 641,205 Bitcoin. Its total investment now stands at about $69.17 billion based on current market prices.
Data from research firm Glassnode indicates that short-term Bitcoin holders are under pressure. As a result, many recent buyers are facing losses. Historically, this kind of short-term selling often leads to accumulation by long-term investors once prices stabilize.
For now, the $185 million transfer may simply reflect liquidity management within BlackRock’s ETF operations. Some traders expect further volatility.
Some believe these institutional moves reflect growing structure in cryptocurrency markets. They also see deeper integration with traditional finance.
Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey’s articles has been featured on Cryptonews and Coingape, among others.
