BlackRock Moves $172.5M in BTC and ETH to Coinbase Prime

Highlights:

• Asset management firm BlackRock has transferred Bitcoin and Ethereum worth roughly $172.5 million to Coinbase Prime. 
• The asset manager moved exactly 2,402 BTC valued at $151.4 million and 12,679 ETH tokens worth $21.1 million.
• Bitcoin and Ethereum prices spike slightly as both assets continue to trade below key support levels. 

Digital assets management firm BlackRock has moved large amounts of its Bitcoin (BTC) and Ethereum (ETH) holdings to Coinbase Prime. Lookonchain, an on-chain crypto transaction tracker, reported the transfers on Thursday, raising fresh concerns about a market decline. In its X post, Lookonchain stated that the asset manager moved 2,402 Bitcoin, worth roughly $151.4 million, and 12,679 ETH, valued at approximately $21.1 million. 

Overall, the transactions are worth exactly $172.5 million. The latest transfers come a few days after BlackRock sold 3,671 BTC worth roughly $230 million and purchased 10,566 ETH for $17.71 million. Despite moving significant volumes of Bitcoin and Ethereum, Arkham Intelligence data showed that BlackRock’s wallet still holds digital assets worth roughly $52.85 billion. 

Bitcoin still accounts for over 90% of the entire wallet’s valuation. The address holds 767,183 BTC worth approximately $48.14 billion at an average cost of $62,753. It also holds 2.866 million ETH valued at about $4.71 billion at the rate of $1,643.15 per token. Other digital assets in the wallet include SPX, SBET, Tether’s USDT, MOG, Shiba Inu (SHIB), and PEPE. 

BlackRock continues to see $BTC and $ETH outflows.

BlackRock just deposited 2,402 $BTC($151.4M) and 12,679 $ETH($21.06M) to Coinbase Prime.https://t.co/YfaFJXVOID pic.twitter.com/AfGgafa1Ut

— Lookonchain (@lookonchain) June 11, 2026

BTC and ETH Prices Spike Slightly as BlackRock Moves $172M in Digital Assets

At the time of writing, Bitcoin is changing hands at approximately $62,833, following a 1.4% surge in the past 24 hours. The asset’s market cap is $1.26 trillion, while its trading volume is approximately $29.2 billion. In the past week, month, and year, BTC has dipped by 1.3%, 22.3%, and $42.7%, respectively. The asset has also dropped 50.2% below its all-time high (ATH) attained in October last year.  

Ethereum’s price is 0.4% up in the past 24 hours. It is trading at roughly $1,652, with a market cap of approximately $199.1 billion, and a trading volume of about $11.9 billion. Coincodex’s data shows that Ethereum’s volatility is very high at 10.71%. Its “Fear & Greed Index” points to “Extreme Fear” at 12, while sentiment remains bearish. The asset is 67% below its $4,946 ATH attained in August 2025. 

Whales and Institutional Investors Continue to Show Strong Faith in BTC and ETH

While BlackRock continues to move its crypto holdings to exchanges, whales and other institutional firms have taken advantage of the market’s recent dip to accumulate Bitcoin and Ethereum at discounted prices.

In an X post on Thursday, Lookonchain reported that a newly created wallet withdrew 492 BTC worth roughly $31.06 million from Binance. In the past five days, a different whale with a wallet address labeled “bc1q2t” purchased 2,341 BTC for $144.68 million on OKX. Three other newly created wallets also withdrew 737.7 BTC worth $45.6 million from BitGo. 

Whales are accumulating $BTC!

Whale bc1q2t withdrew 2,341 $BTC($144.68M) from #OKX in the past 5 days.

3 newly created wallets withdrew 737.7 $BTC($45.6M) from #BitGo.https://t.co/NS7Y0UzOYvhttps://t.co/knI93xGspshttps://t.co/k6EEOJi309https://t.co/iTGjPjBx7I pic.twitter.com/rZl3COJcWh

— Lookonchain (@lookonchain) June 11, 2026

Earlier today, Lookonchain reported that Tom Lee’s BitMine Immersion Technologies purchased another 25,000 ETH for $41.09 million on BitGO. This acquisition brought the company’s total purchase in the past three days to about 125,000 ETH valued at approximately $206 million.

BitMine remains the largest corporate holder of Ethereum with over 5 million Ethereum tokens worth over $9 billion. The company currently controls approximately 5% of Ethereum’s entire supply. 

Tom Lee(@fundstrat)'s #Bitmine bought another 25,000 $ETH($41.09M) from #BitGo 8 hours ago.

Bitmine has bought a total of 125,000 $ETH($206M) in the past 3 days.https://t.co/A2LBSEd8ED pic.twitter.com/WOPNVYrGa7

— Lookonchain (@lookonchain) June 10, 2026