BlackRock Weekly $ETH & $BTC Deposits Surpass $1B...

BlackRock Moves $360M in Bitcoin and Ethereum to Coinbase Prime

BlackRock has transferred 5,212 $BTC and 20,000 $ETH to Coinbase Prime in a single transaction worth approximately $360 million, according to on-chain data. The move pushed the asset manager's total institutional deposits over the past week past the $1 billion mark, underlining the growing role of digital assets in large-scale portfolio allocation.

Coinbase Prime serves as the institutional custody and execution arm of Coinbase, providing cold storage, compliance infrastructure, and large-block trading capabilities preferred by regulated financial firms. For a firm like BlackRock, which manages over $10 trillion in assets, security and compliance are non-negotiable, and Coinbase Prime's use of institutional-grade protocols addresses those requirements directly, while also allowing efficient execution of large trades.

The latest transfer is consistent with a pattern of regular, sizeable deposits BlackRock has made to the platform throughout 2026. Earlier this year, the firm deposited more than $206 million in Bitcoin to Coinbase Prime in a single week, highlighting the accelerating pace of institutional crypto adoption. Blockchain analytics firm Lookonchain has been among the platforms tracking and verifying these transactions.

Institutional Demand Remains Durable Despite Market Volatility

The on-chain deposits align with sustained inflows into BlackRock's regulated crypto products. BlackRock's iShares Bitcoin Trust (IBIT) ended Q1 2026 with approximately $55 billion in assets under management, holding more than 800,000 Bitcoin, and recorded net inflows on 48 of 62 trading days during the quarter, capturing an estimated $8.4 billion for the period. On the Ethereum side, BlackRock's ETHA continued to lead the segment with more than $6.1 billion in net assets, strengthening its position as the dominant Ethereum ETF product.

The sustained institutional bid through periods of significant price weakness is structurally significant. It is not evidence of conviction about near-term price direction, but rather evidence that the allocation decision has been made by a large enough portion of institutional and wealth management capital that it has become durable.

The scale of BlackRock's weekly transfers reinforces the broader narrative that $BTC and $ETH are increasingly treated as core reserve assets by major financial institutions, rather than speculative positions.

Sources:
Crypto Briefing: BlackRock moves over $120M in Bitcoin and Ethereum to Coinbase Prime
MEXC News: BlackRock Bitcoin Deposit, Strategic $206M Move to Coinbase Prime
FinTech Weekly: BlackRock Q1 2026 IBIT Institutional Bitcoin Infrastructure