2h ago

BlackRock ETF wallets move $16.216 million in Bitcoin and Ethereum to Coinbase on Aug. 14

AI Market Summary

BlackRock's ETF-associated wallets transferred about $16.2M of BTC and ETH to Coinbase, signaling near-term distribution and potential supply overhang. However, flow data still show sizable month-to-date net BTC buying (~$541.9M) and weekly net ETH purchases, suggesting the move may reflect liquidity management rather than a broad reversal. The market focus remains on ETF flow persistence versus episodic exchange deposits.

Impact level

● Medium

Affected assets

BTC/USDT-1.22%

AI Insight · BTC/USDTAI Insight

● Neutral

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On Aug. 14, wallets tied to BlackRock’s Bitcoin and Ethereum ETFs deposited about $16.216 million worth of crypto to Coinbase, including 249.16 BTC (about $15.67 million) and 301.76 ETH (about $565,425). The transfers point to selling activity by investors on that date. Data also show that as of August, BlackRock investors have cumulatively bought about $541.88 million worth of Bitcoin.

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