By Vivian Nguyen — Dec. 5, 2025
BlackRock moved approximately $120 million worth of Bitcoin and $2.5 million worth of Ethereum to Coinbase Prime on Dec. 5, 2025. The transfers are consistent with the asset manager’s ongoing institutional portfolio adjustments as it manages holdings tied to its spot crypto products.
Coinbase Prime is an institutional platform offering custody, compliance tools, and high-volume trading services for large asset managers and funds. BlackRock has used the platform repeatedly to rebalance and steward crypto positions supporting its ETFs and other client services.
The timing coincided with flows in BlackRock’s spot ETFs: the firm’s Bitcoin ETF reported roughly $113 million in net outflows on Thursday, while its Ethereum ETF saw about $28 million of inflows. Market participants often interpret such on-chain transfers to custodial trading desks as routine operational moves — for liquidity management, rebalancing, or meeting redemption and creation needs tied to ETF activity.
