COINOTAG News reported on November 18, citing OnchainLens data, that a BlackRock address initiated a substantial cross-exchange transfer to Coinbase. The move comprised 3,064 Bitcoin (BTC) valued at roughly $280 million and 64,707 Ethereum (ETH) valued around $198.7 million, signaling meaningful activity from a leading institutional holder within the crypto exchange ecosystem.
These transfers underscore ongoing institutional demand for robust custody solutions and liquidity channels on regulated platforms, potentially influencing Bitcoin and Ethereum flows into major exchanges. While the exact wallet and intent remain unconfirmed, the reported action illustrates how large asset managers are shaping exchange reserves, risk management, and market structure in crypto markets, per OnchainLens analytics.