BlackRock Moves Over $150M in BTC and ETH to Coinbase Prime

Highlights:

• BlackRock moves over $150 million worth of Bitcoin and Ethereum to Coinbase Prime.
• The transfer involved 1,587 BTC worth $122.55 million and 17,815 ETH, valued at approximately $37.79 million.
• Bitcoin and Ethereum have dipped slightly amid sell-off concerns. 

Crypto analytical firm On-chain Lens has reported that Digital assets firm BlackRock moved over $150 million in Bitcoin (BTC) and Ethereum (ETH) to Coinbase Prime hot wallets. 1,587 BTC tokens worth roughly $122.55 million accounted for a larger portion of the transfer, while 17,815 ETH, valued at approximately $37.79 million, accounted for the rest. 

BlackRock deposited 1,587 $BTC worth $122.55M and 17,815 $ETH worth $37.79M into #Coinbase.https://t.co/pyOLoPpL7H pic.twitter.com/WtyKyeZHsM

— Onchain Lens (@OnchainLens) May 22, 2026

After the transfers, the wallet still holds $68.8 billion in digital assets. Bitcoin accounts for over 90% of these assets. For context, the address holds 806.727K BTC worth $62.22 billion at an average cost of $77,121 per token. The wallet also holds 3.104 million ETH worth roughly $6.6 billion at the rate of $2,125 per ETH. Some other assets in the wallet include SPX, IMAGE, SBET, VERTAI, and Tether’s USDT. They are worth less than $1 million. 

In crypto, these kinds of moves are common during activities like exchange-traded fund (ETF) custody, rebalancing, and liquidity needs. They do not necessarily mean that the company involved is dumping the assets. While some market participants perceive these kinds of transfers as routine institutional activities, others misinterpret them as a bearish signal that could impact their investment decisions. 

Blackrock Moves $150M+ Worth of Ethereum and Bitcoin To Coinbase Prime Hot Wallets@BlackRock transferred 1,587 BTC worth $122.55 million and 17,815 ETH worth $37.79 million.

The total value exceeded $160 million, with both assets going to Coinbase Prime hot wallets.

These… pic.twitter.com/kkxBZKgjdB

— BSCN (@BSCNews) May 22, 2026

BTC and ETH Prices Dip Slightly

At the time of press, the crypto market is 0.1% down in the past 24 hours. It has a valuation of roughly $2.65 trillion with a trading volume of  $76.2 billion. Bitcoin’s dominance is 58%, while Ethereum dominates at about 9.64%. Moreover, Bitcoin has dipped by 0.3% in the past 24 hours. It is changing hands at roughly $76,700 and has a market cap of approximately $1.54 trillion. In the past week, month, and year, BTC has dropped by approximately 4.5%, 2.7%, and 31.2%, respectively.

On its part, Ethereum is trading at approximately $2,115 following a 0.1% decline in the past 24 hours. The asset has a market cap of $255.4 billion and a trading volume of approximately $12 billion. On Coincodex, Ethereum’s supply inflation remains low, with a medium volatility of 3.33%. Sentiment is bearish, while the “Fear & Greed Index continues to point towards fear at 28. 

In addition, ETH has dropped by 57% from its all-time high (ATH). It is also trading below its 200-day Simple Moving Average (SMA). On the positive side, Ethereum has outperformed 64% of the top 100 performing cryptocurrencies. It has also recorded 16 profitable days in the past 30 days. 

Interest in Bitcoin and Ethereum Remains Strong

Institutions have continued to show strong faith in Ethereum and Bitcoin. On May 18, Crypto2Community reported that the Ethereum treasury company, BitMine, added 71,672 ETH, raising its corporate treasury to 5.28 million tokens worth over $12 billion. The company also reported that it has staked 4,712,917 ETH. The staked assets represent roughly 89% of its entire Ethereum position. At an average rate of $2191, these staked tokens are worth about $10.3 billion. 

Capital B and Michael Saylor’s Strategy also reported significant Bitcoin acquisitions earlier this week. Capital B bought 192 BTC valued at approximately €13 million. This increased its holdings to 3,135 BTC worth roughly €283.6 million. Similarly, Strategy purchased 24,869 BTC, worth $2.01 billion at $80,985 per BTC. The company now holds 843,738 BTC valued at approximately $63.87 billion.