BlackRock-linked wallets move over $430 million in bitcoin, ether to Coinbase Prime

Group 1 - BlackRock's spot bitcoin and ether ETFs have seen significant outflows, with $708.71 million in net outflows for bitcoin ETFs and $297.51 million for ether ETFs, indicating a trend of redemption-driven settlement rather than discretionary selling [2][4] - Over the past few hours, wallets linked to BlackRock's ETFs transferred more than $430 million worth of crypto to Coinbase Prime, marking one of the largest ETF-related transfer clusters this week [1][3] - The transfers included approximately 3,070 bitcoin valued at $276 million and about 52,800 ether worth around $157 million, reflecting substantial operational flows rather than direct market selling [2][4] Group 2 - BlackRock's iShares Bitcoin Trust (IBIT) remains the largest institutional holder of bitcoin, with hundreds of thousands of BTC held on behalf of clients, while the iShares Ethereum Trust (ETHA) is one of the largest regulated vehicles for ether exposure [6] - The recent transfer activity follows a previous transfer of roughly $300 million in bitcoin and ether tied to BlackRock wallets, which coincided with a brief price surge for bitcoin [5] - As of mid-January, bitcoin was trading just under $90,000 and ether near $3,000, with the broader crypto markets attempting to stabilize after a period of volatility [7]