BlackDeposits $610 Million in Bitcoin and Ethereum to Coinbase Prime
BlackRock transferred approximately $610 million worth of Bitcoin and Ethereum to Coinbase Prime over the past two days. On-chain data shows the liquidity movement consisted of 7,160 Bitcoin, valued at roughly $447 million, and 98,850 Ethereum, worth about $164 million. Coinbase Prime serves as the institutional custody and trading arm of Coinbase, handling digital asset flows for professional investors.
The transfer occurs amid a sustained pullback from major crypto investment funds. U.S. spot Bitcoin and Ethereum exchange-traded funds recorded net outflows for a sixth consecutive week, with Bitcoin ETFs shedding $226.8 million between June 14 and June 18. The selling pressure was largely driven by Grayscale’s GBTC fund, which lost $156.3 million, while Ethereum ETFs also saw $10 million in outflows. Broader ETF inflows recently shifted toward alternative assets like Solana, XRP, and HYPE, which collectively posted positive net flows during the same period.
From the sources (7 posts)
@cointelegraph🇺🇸 ETF FLOWS: SOL and XRP spot ETFs saw net inflows last week, while BTC and ETH spot ETFs saw net outflows. BTC: -$226.84M ETH: -$10.05M SOL: $7.11M XRP: $10.66M
@wublockchainSpot Bitcoin ETFs See $227M Weekly Outflows, Sixth Straight Week From June 14 to June 18 (ET), spot Bitcoin ETFs recorded $227 million in net outflows, marking the sixth consecutive week of outflows. Spot Ethereum ETFs saw $10.05 million i
@bitcoinnews🟠 #Bitcoin spot ETFs posted $226.8M in outflows for a 6th straight week, led by Grayscale GBTC's $156.3M loss. 📉 HYPE ETFs led altcoin inflows with $27.9M, while XRP added $10.7M and Solana $7.1M, as Galaxy Research flagged a record $6.35B
@theblockcoSpot bitcoin ETFs log sixth consecutive week of net outflows; analyst says selling wave is exhausting itself
@cryptoroverBREAKING : 🇺🇸 BlackRock sells $171,980,000 worth of Bitcoin.
@kalshi_cryptoJUST IN: BlackRock just deposited $610M worth of Bitcoin and Ethereum to Coinbase Prime
@lookonchainBlackRock keeps selling $BTC and $ETH! Over the past 2 days, it has transferred 7,160 $BTC($447M) and 98,850 $ETH($164M) to Coinbase Prime.