TLDR
- BlackRock transferred 4,113 Bitcoin worth approximately $429.4 million to Coinbase Prime.
- This move marks a break from BlackRock’s consistent Bitcoin accumulation since the launch of its iShares Bitcoin Trust.
- The transaction originated from wallets previously associated with BlackRock’s ETF-linked Bitcoin holdings.
- According to blockchain and regulatory data, despite the large transfer, BlackRock has not confirmed a Bitcoin sale.
- Bitcoin’s price and volatility remained stable after the transfer with no significant impact on market liquidity.
BlackRock has moved 4,113 Bitcoin, valued at approximately $429.4 million, to Coinbase Prime within the last 24 hours. This sudden transfer marked a significant break from the accumulation trend observed since the iShares Bitcoin Trust launch. Despite ongoing speculation, market activity and official data currently show no confirmation of an actual sale.
Bitcoin Stable After BlackRock Wallet Move
Blockchain data confirmed the transfer of over 4,100 Bitcoin to Coinbase Prime, an institutional custody and execution platform. The transaction originated from wallets previously linked to BlackRock’s iShares Bitcoin Trust, intensifying ongoing market discussions. As a result, speculation around BlackRock’s potential sale of Bitcoin grew rapidly across various digital communities.
IBIT’s Low(er) Volatility Rally is Luring in Bigger Fish.. the 90-day rolling vol of $IBIT is declining and has never been lower (chart). This – along w the rally itself – is helping to attract larger investors (who want digital gold, not a tech stock). This helps explain why… pic.twitter.com/6e5PD8IZ1R
— Eric Balchunas (@EricBalchunas) May 29, 2025
Many interpreted the movement as a signal of a possible liquidation due to Coinbase Prime’s institutional trade function. However, Bitcoin’s price remained stable throughout the event, and there were no significant shifts in spot market volatility. Additionally, data showed no major disruption in order book depth or trading volumes after the transaction occurred.
This transfer coincided with heightened chatter on social platforms, but market behavior did not reflect panic or large-scale reactions. Bitcoin’s 90-day rolling volatility remains near its lowest point since IBIT launched. This trend has continued attracting more participants who seek less price movement in Bitcoin exposure.
No Evidence of Bitcoin Sale by BlackRock
Though the Bitcoin movement has been verified on-chain, no concrete signs of a completed sale have emerged. BlackRock’s latest ETF filings continue to list their holdings at approximately 664,954.7 Bitcoin. Furthermore, no sale-related filings or redemptions have been submitted to regulatory bodies.
Arkham Intelligence has stated that BlackRock denied conducting a sale related to this transfer. Their wallet analysis supports this position, as on-chain balances have not changed significantly since the transfer. This indicates that the assets may remain under custody and not yet exchanged for fiat or other digital assets.
There is also no recorded movement of Bitcoin to hot wallets typically associated with selling activity. Instead, Coinbase Prime may be holding the assets for custodial purposes or future allocation. While the origin of the transfer is clear, the intent remains speculative and unsupported by trading data.
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